Ring Mountain Capital LLC Makes New $202,000 Investment in QUALCOMM Incorporated $QCOM

Ring Mountain Capital LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,305 shares of the wireless technology company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Kingstone Capital Partners Texas LLC raised its position in QUALCOMM by 656,661.0% in the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock valued at $9,360,274,000 after purchasing an additional 58,764,593 shares during the period. Nuveen LLC purchased a new stake in QUALCOMM in the first quarter valued at $529,713,000. Goldman Sachs Group Inc. raised its position in QUALCOMM by 24.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company’s stock valued at $1,114,403,000 after purchasing an additional 1,407,797 shares during the period. Deutsche Bank AG raised its position in QUALCOMM by 11.2% in the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company’s stock valued at $1,331,170,000 after purchasing an additional 875,412 shares during the period. Finally, AQR Capital Management LLC raised its position in QUALCOMM by 84.6% in the first quarter. AQR Capital Management LLC now owns 1,544,011 shares of the wireless technology company’s stock valued at $230,444,000 after purchasing an additional 707,615 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 8,335 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the transaction, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at $6,067,998.46. The trade was a 18.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total value of $24,834,000.00. Following the transaction, the chief executive officer directly owned 149,304 shares of the company’s stock, valued at $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 163,169 shares of company stock valued at $26,978,998. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. Weiss Ratings upgraded QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. UBS Group set a $165.00 target price on QUALCOMM in a research report on Monday, October 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Tuesday, October 28th. Arete raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Tuesday, August 26th. Finally, Citigroup lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $184.41.

QUALCOMM Trading Down 4.4%

Shares of NASDAQ QCOM opened at $172.84 on Wednesday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $205.95. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $166.61 and a 200-day simple moving average of $157.38. The stock has a market capitalization of $186.49 billion, a PE ratio of 16.67, a PEG ratio of 2.59 and a beta of 1.23.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s payout ratio is presently 34.33%.

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, computing, multimedia, and position location products.