Logan Capital Management Inc. Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Logan Capital Management Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,435 shares of the wireless technology company’s stock after purchasing an additional 331 shares during the period. Logan Capital Management Inc.’s holdings in QUALCOMM were worth $821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Capital Management LLC raised its holdings in shares of QUALCOMM by 118.8% during the 1st quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock worth $28,000 after acquiring an additional 120 shares during the period. Corrado Advisors LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth $27,000. Ruedi Wealth Management Inc. purchased a new position in shares of QUALCOMM during the 4th quarter worth $28,000. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of QUALCOMM by 53.9% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock worth $28,000 after acquiring an additional 90 shares during the period. Finally, Tanglewood Legacy Advisors LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $114.16, for a total value of $114,160.00. Following the completion of the transaction, the insider now directly owns 6,745 shares of the company’s stock, valued at $770,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $106.14 on Monday. The business has a 50-day simple moving average of $117.66 and a 200-day simple moving average of $117.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.42. The company has a market cap of $118.45 billion, a PE ratio of 13.89, a P/E/G ratio of 1.04 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $139.94.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.51 billion. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 6.41 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 31st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Wednesday, August 30th. QUALCOMM’s dividend payout ratio (DPR) is 41.88%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley lifted their price target on QUALCOMM from $125.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $159.00 to $148.00 in a report on Thursday, August 3rd. UBS Group boosted their price objective on shares of QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Mizuho restated a “buy” rating and issued a $140.00 price objective on shares of QUALCOMM in a report on Wednesday, August 23rd. Finally, StockNews.com started coverage on shares of QUALCOMM in a report on Thursday, August 17th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $143.26.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.