UniSuper Management Pty Ltd Purchases New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Cerbat Gem

UniSuper Management Pty Ltd purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 189,230 shares of the wireless technology company’s stock, valued at approximately $22,526,000.

Other large investors have also recently bought and sold shares of the company. Milestone Investment Advisors LLC acquired a new position in QUALCOMM in the 1st quarter worth about $26,000. Pacific Center for Financial Services acquired a new position in QUALCOMM in the 1st quarter worth about $31,000. Strategic Investment Solutions Inc. IL acquired a new position in QUALCOMM in the 1st quarter worth about $32,000. Avion Wealth increased its position in QUALCOMM by 1,830.8% in the 2nd quarter. Avion Wealth now owns 251 shares of the wireless technology company’s stock worth $29,000 after purchasing an additional 238 shares during the last quarter. Finally, Impact Partnership Wealth LLC acquired a new position in QUALCOMM in the 2nd quarter worth about $36,000. 71.10% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $131.99 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.33 and a quick ratio of 1.67. The stock has a market cap of $146.90 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The stock has a 50-day moving average of $117.53 and a 200-day moving average of $116.63. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $139.94.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.14. The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. QUALCOMM had a return on equity of 37.85% and a net margin of 20.19%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 7.17 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Wednesday, November 29th. This represents a $3.20 dividend on an annualized basis and a yield of 2.42%. QUALCOMM’s payout ratio is 49.84%.

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on QUALCOMM from $129.00 to $119.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Susquehanna upped their price target on QUALCOMM from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Thursday, November 2nd. KeyCorp reiterated an “overweight” rating and set a $145.00 price target on shares of QUALCOMM in a research note on Thursday, September 14th. Rosenblatt Securities restated a “buy” rating and set a $145.00 target price on shares of QUALCOMM in a research note on Thursday, September 14th. Finally, StockNews.com upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.85.

Read Our Latest Report on QCOM

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 3,098 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $130.00, for a total transaction of $402,740.00. Following the completion of the transaction, the chief accounting officer now owns 247 shares of the company’s stock, valued at approximately $32,110. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $124.00, for a total transaction of $124,000.00. Following the completion of the transaction, the insider now owns 3,745 shares of the company’s stock, valued at approximately $464,380. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 3,098 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $402,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 247 shares of the company’s stock, valued at $32,110. The disclosure for this sale can be found here. In the last three months, insiders sold 50,061 shares of company stock valued at $5,780,038. 0.07% of the stock is owned by corporate insiders.

QUALCOMM Profile

(Free Report)

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.

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