Perigon Wealth Management LLC acquired a new position in QUALCOMM, Inc. (NASDAQ:QCOM) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 3,602 shares of the wireless technology company’s stock, valued at approximately $274,000.

Several other hedge funds also recently bought and sold shares of QCOM. Clearbridge Investments LLC grew its position in QUALCOMM by 1.1% during the first quarter. Clearbridge Investments LLC now owns 9,379,210 shares of the wireless technology company’s stock valued at $534,896,000 after acquiring an additional 99,528 shares during the last quarter. FIL Ltd grew its position in QUALCOMM by 179.2% during the first quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock valued at $272,050,000 after acquiring an additional 3,061,598 shares during the last quarter. OppenheimerFunds Inc. grew its position in QUALCOMM by 48.5% during the first quarter. OppenheimerFunds Inc. now owns 3,221,596 shares of the wireless technology company’s stock valued at $183,728,000 after acquiring an additional 1,052,071 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in QUALCOMM by 12.0% during the second quarter. CIBC Private Wealth Group LLC now owns 2,985,605 shares of the wireless technology company’s stock valued at $227,115,000 after acquiring an additional 320,165 shares during the last quarter. Finally, First Trust Advisors LP grew its position in QUALCOMM by 18.5% during the first quarter. First Trust Advisors LP now owns 2,659,746 shares of the wireless technology company’s stock valued at $151,685,000 after acquiring an additional 416,097 shares during the last quarter. Institutional investors own 79.55% of the company’s stock.

In related news, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the sale, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

QCOM has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (up previously from $96.00) on shares of QUALCOMM in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on QUALCOMM from $88.00 to $96.00 and gave the company a “positive” rating in a research note on Thursday, May 2nd. Mizuho reissued a “hold” rating and set a $68.00 price objective on shares of QUALCOMM in a research note on Thursday, August 1st. Citigroup increased their price objective on QUALCOMM from $55.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, TheStreet raised QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $79.93.

QCOM stock traded up $0.60 on Wednesday, reaching $76.67. The company’s stock had a trading volume of 3,180,411 shares, compared to its average volume of 11,276,162. The business has a fifty day simple moving average of $73.98 and a two-hundred day simple moving average of $67.67. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34. The firm has a market cap of $89.08 billion, a PE ratio of 24.03, a PEG ratio of 1.99 and a beta of 1.62. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The firm’s revenue was down 12.7% on a year-over-year basis. As a group, research analysts anticipate that QUALCOMM, Inc. will post 2.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, September 11th. QUALCOMM’s payout ratio is 77.74%.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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