19,761 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Kerusso Capital Management LLC

Kerusso Capital Management LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,761 shares of the wireless technology company’s stock, valued at approximately $3,936,000. QUALCOMM makes up 2.9% of Kerusso Capital Management LLC’s holdings, making the stock its 4th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Norges Bank purchased a new stake in QUALCOMM in the 4th quarter valued at about $2,507,978,000. Matrix Capital Management Company LP acquired a new position in QUALCOMM in the first quarter valued at about $1,171,516,000. Putnam Investments LLC boosted its stake in QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after buying an additional 263,482 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock worth $3,496,590 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 3.4 %

QCOM stock opened at $158.19 on Friday. The stock has a market cap of $176.54 billion, a P/E ratio of 21.26, a PEG ratio of 1.93 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company’s 50 day moving average is $179.95 and its two-hundred day moving average is $181.55.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Research analysts expect 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 given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Citigroup raised their price target on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. TD Cowen boosted their price objective on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. Finally, Robert W. Baird boosted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $210.63.

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.