Excalibur Management Corp Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Excalibur Management Corp grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the second quarter, HoldingsChannel reports. The firm owned 7,495 shares of the wireless technology company’s stock after acquiring an additional 221 shares during the period. Excalibur Management Corp’s holdings in QUALCOMM were worth $1,493,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Pine Haven Investment Counsel Inc lifted its holdings in shares of QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after purchasing an additional 50 shares in the last quarter. Buffington Mohr McNeal lifted its stake in shares of QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after buying an additional 53 shares during the period. TRUE Private Wealth Advisors lifted its stake in shares of QUALCOMM by 2.2% during the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after buying an additional 57 shares during the period. Macroview Investment Management LLC lifted its stake in shares of QUALCOMM by 10.5% during the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. lifted its stake in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on QCOM. Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a research note on Thursday, August 1st. Susquehanna upped their price target 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. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Finally, HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $210.63.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly 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 is available at this link. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

QCOM opened at $166.61 on Tuesday. The company has a fifty day simple moving average of $175.29 and a 200 day simple moving average of $182.11. The firm has a market cap of $185.94 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

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

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. QUALCOMM’s payout ratio is currently 45.70%.

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.