Means Investment CO. Inc. Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Means Investment CO. Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,777 shares of the wireless technology company’s stock after buying an additional 86 shares during the quarter. Means Investment CO. Inc.’s holdings in QUALCOMM were worth $1,152,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the 1st quarter worth approximately $27,000. HWG Holdings LP bought a new position in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC lifted its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Finally, Richardson Capital Management LLC bought a new position in shares of QUALCOMM in the 1st quarter worth approximately $37,000. 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 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock worth $3,679,407 over the last three months. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on QCOM. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Robert W. Baird raised their target price 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. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.75.

QUALCOMM Trading Down 0.1 %

QCOM stock opened at $170.92 on Friday. The firm has a fifty day moving average price of $169.11 and a 200 day moving average price of $182.19. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market cap of $190.75 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.79 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. QUALCOMM’s dividend payout ratio is presently 45.70%.

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.