Azimuth Capital Investment Management LLC Purchases 320 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Azimuth Capital Investment Management LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,685 shares of the wireless technology company’s stock after purchasing an additional 320 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in QUALCOMM were worth $1,641,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of QUALCOMM by 565.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company’s stock valued at $19,098,000 after acquiring an additional 105,631 shares in the last quarter. PFG Advisors increased its stake in shares of QUALCOMM by 8.0% in the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company’s stock valued at $663,000 after acquiring an additional 321 shares in the last quarter. Teza Capital Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company’s stock valued at $28,979,000 after acquiring an additional 6,017 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of QUALCOMM by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company’s stock valued at $203,904,000 after acquiring an additional 145,509 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares of the company’s stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $157.85 on Friday. The stock has a fifty day moving average of $155.73 and a 200 day moving average of $153.73. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The firm has a market capitalization of $170.32 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.30 and a beta of 1.23. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.3%. QUALCOMM’s dividend payout ratio (DPR) is currently 34.33%.

Analysts Set New Price Targets

Several analysts have recently weighed in on QCOM shares. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the company an “outperform” rating in a research note on Monday, July 28th. Susquehanna decreased their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Citigroup restated a “hold” rating on shares of QUALCOMM in a research note on Thursday, July 17th. Finally, Mizuho decreased their price target on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $181.10.

QUALCOMM Company 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.