3Chopt Investment Partners LLC Acquires Shares of 10,712 QUALCOMM Incorporated (NASDAQ:QCOM)

3Chopt Investment Partners LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,712 shares of the wireless technology company’s stock, valued at approximately $2,134,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the period. Legal & General Group Plc lifted its stake in QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the period. Matrix Capital Management Company LP bought a new position in QUALCOMM during the 1st quarter worth about $1,171,516,000. Putnam Investments LLC raised its holdings in shares of QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $170.05 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The stock’s 50-day moving average price is $169.16 and its 200-day moving average price is $182.16. The stock has a market capitalization of $189.78 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, equities analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s payout ratio is presently 45.70%.

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday, August 2nd. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Finally, Susquehanna lifted their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

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, computing, multimedia, and position location products.