Mutual of America Capital Management LLC Has $29 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Cerbat Gem

Mutual of America Capital Management LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 0.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 145,608 shares of the wireless technology company’s stock after selling 710 shares during the period. Mutual of America Capital Management LLC’s holdings in QUALCOMM were worth $29,002,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. City Holding Co. raised its position in QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares in the last quarter. Federated Hermes Inc. raised its position in QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after purchasing an additional 534,176 shares in the last quarter. BNP Paribas acquired a new position in QUALCOMM in the first quarter worth about $3,104,000. SWP Financial LLC acquired a new position in QUALCOMM in the fourth quarter worth about $593,000. Finally, Horizon Investment Services LLC acquired a new position in QUALCOMM in the first quarter worth about $3,832,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.3 %

NASDAQ QCOM opened at $168.70 on Wednesday. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock has a 50 day moving average of $174.52 and a 200-day moving average of $182.15. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market cap of $188.27 billion, a PE ratio of 22.67, a PEG ratio of 1.81 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Mizuho increased their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Tigress Financial lifted their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Cantor Fitzgerald restated a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

View Our Latest Analysis on QCOM

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock worth $3,496,590. Company insiders own 0.08% of the company’s stock.

About QUALCOMM

(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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