3,888 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Catalina Capital Group LLC

Catalina Capital Group LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,888 shares of the wireless technology company’s stock, valued at approximately $658,000.

Other hedge funds have also modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in QUALCOMM by 13.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 19,799 shares of the wireless technology company’s stock worth $2,199,000 after purchasing an additional 2,343 shares in the last quarter. Resources Management Corp CT ADV boosted its holdings in shares of QUALCOMM by 1.9% during the 3rd quarter. Resources Management Corp CT ADV now owns 41,750 shares of the wireless technology company’s stock valued at $4,637,000 after purchasing an additional 769 shares during the last quarter. OLD National Bancorp IN grew its position in shares of QUALCOMM by 58.3% during the third quarter. OLD National Bancorp IN now owns 40,845 shares of the wireless technology company’s stock valued at $4,536,000 after purchasing an additional 15,035 shares in the last quarter. Finally, Savoie Capital LLC bought a new stake in shares of QUALCOMM in the third quarter worth about $10,002,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Canaccord Genuity Group increased their price target on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Mizuho raised their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. HSBC upped their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Piper Sandler lifted their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Benchmark restated a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.96.

QUALCOMM Trading Up 0.8 %

NASDAQ QCOM traded up $1.68 during trading hours on Wednesday, reaching $208.80. The company had a trading volume of 5,154,425 shares, compared to its average volume of 9,184,460. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market capitalization of $233.02 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 2.53 and a beta of 1.27. The stock has a 50-day moving average of $201.41 and a 200 day moving average of $172.71. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity

In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is currently owned by company insiders.

About QUALCOMM

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, computing, multimedia, and position location products.