United Asset Strategies Inc. Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

United Asset Strategies Inc. lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,683 shares of the wireless technology company’s stock after acquiring an additional 312 shares during the period. United Asset Strategies Inc.’s holdings in QUALCOMM were worth $2,497,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. AustralianSuper Pty Ltd grew its holdings in QUALCOMM by 14.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 15,409 shares of the wireless technology company’s stock valued at $2,620,000 after buying an additional 1,914 shares in the last quarter. Nikulski Financial Inc. boosted its position in shares of QUALCOMM by 5.0% during the third quarter. Nikulski Financial Inc. now owns 1,819 shares of the wireless technology company’s stock worth $309,000 after acquiring an additional 86 shares during the last quarter. HM Payson & Co. grew its stake in QUALCOMM by 3.5% during the third quarter. HM Payson & Co. now owns 6,875 shares of the wireless technology company’s stock valued at $1,169,000 after acquiring an additional 230 shares in the last quarter. Financial Advocates Investment Management increased its holdings in QUALCOMM by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 9,996 shares of the wireless technology company’s stock valued at $1,700,000 after acquiring an additional 289 shares during the last quarter. Finally, Diversify Wealth Management LLC lifted its stake in QUALCOMM by 9.8% in the 3rd quarter. Diversify Wealth Management LLC now owns 13,658 shares of the wireless technology company’s stock worth $2,275,000 after purchasing an additional 1,217 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 2.5 %

QCOM stock traded down $4.12 during trading on Thursday, hitting $163.50. The company had a trading volume of 2,256,885 shares, compared to its average volume of 8,933,190. The firm has a market capitalization of $182.14 billion, a P/E ratio of 21.71, a PEG ratio of 1.71 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 52-week low of $106.69 and a 52-week high of $230.63. The company has a 50 day simple moving average of $169.06 and a 200-day simple moving average of $182.06.

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

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.08%. QUALCOMM’s payout ratio is currently 44.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Susquehanna reduced their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Cantor Fitzgerald lowered their target price on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $207.92.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 in the company, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is currently owned by company insiders.

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.