Beacon Capital Management LLC Acquires 132 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Beacon Capital Management LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,135 shares of the wireless technology company’s stock after purchasing an additional 132 shares during the period. Beacon Capital Management LLC’s holdings in QUALCOMM were worth $135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM during the 1st quarter valued at $26,000. Ruedi Wealth Management Inc. bought a new position in QUALCOMM in the fourth quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group raised its position in QUALCOMM by 53.9% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. TD Capital Management LLC lifted its stake in QUALCOMM by 118.8% during the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock worth $28,000 after purchasing an additional 120 shares during the last quarter. Finally, Pacific Center for Financial Services purchased a new position in shares of QUALCOMM in the 1st quarter worth about $31,000. 71.10% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 2.0 %

Shares of QCOM traded down $2.28 on Tuesday, reaching $110.47. The stock had a trading volume of 1,158,601 shares, compared to its average volume of 8,106,482. The firm has a market capitalization of $121.52 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. The company has a 50-day simple moving average of $117.12 and a 200-day simple moving average of $116.90. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $139.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.42.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.51 billion. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. Sell-side analysts predict that QUALCOMM Incorporated will post 6.41 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 31st will be given a $0.80 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.90%. QUALCOMM’s dividend payout ratio is currently 41.88%.

Insider Buying and Selling

In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.27, for a total value of $111,270.00. Following the transaction, the insider now owns 5,745 shares in the company, valued at approximately $639,246.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CTO James H. Thompson sold 27,962 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $113.23, for a total value of $3,166,137.26. Following the completion of the transaction, the chief technology officer now owns 241,369 shares in the company, valued at $27,330,211.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the transaction, the insider now owns 5,745 shares in the company, valued at approximately $639,246.15. The disclosure for this sale can be found here. Insiders have sold 29,962 shares of company stock worth $3,391,567 in the last 90 days. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. Susquehanna cut their price objective on shares of QUALCOMM from $145.00 to $140.00 and set a “positive” rating for the company in a research note on Thursday, August 3rd. UBS Group raised their price objective on QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, July 24th. Deutsche Bank Aktiengesellschaft lowered QUALCOMM from a “buy” rating to a “hold” rating and lowered their target price for the company from $130.00 to $121.00 in a research note on Thursday, August 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $145.00 price target on shares of QUALCOMM in a research note on Thursday, September 14th. Finally, Bank of America increased their price objective on QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.96.

QUALCOMM 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, application processing, multimedia, and global positioning system products.