MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH invests $478,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,399 shares of the wireless technology company’s stock, valued at approximately $478,000.

Several other hedge funds have recently added to or reduced their stakes in the stock. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the second quarter valued at $32,000. Cherry Tree Wealth Management LLC boosted its stake in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares. actions during that period. Finally, Aspect Partners LLC raised its position in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares. shares in the last quarter. 74.35% of the shares are currently held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

Several analysts have commented on QCOM shares. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Bank of America boosted their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Cantor Fitzgerald restated a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and a consensus price target of $210.63, according to MarketBeat.com.

Read the latest research report on QUALCOMM

Insider buying and selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was 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 approximately $12,407,124.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock worth $3,496,590. Insiders hold 0.08% of the company’s stock.

QUALCOMM trading rose 3.4%

Shares of QCOM stock opened at $175.30 on Monday. The company has a market cap of $195.63 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.93 and a beta of 1.27. 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 firm has a 50-day moving average price of $183.33 and a 200-day moving average price of $181.33. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. research analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, September 5. This represents a dividend of $3.40 on an annualized basis and a yield of 1.94%. QUALCOMM’s payout ratio is 45.70%.

About QUALCOMM

(Free report)

QUALCOMM Incorporated is committed to developing and commercializing core technologies for the worldwide wireless industry. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology License (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and provides 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 positioning products.

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