Chicago Partners Investment Group LLC Has $1.96 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Chicago Partners Investment Group LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.1% in the third quarter, Holdings Channel reports. The institutional investor owned 11,778 shares of the wireless technology company’s stock after purchasing an additional 881 shares during the period. Chicago Partners Investment Group LLC’s holdings in QUALCOMM were worth $1,962,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Phillips Wealth Planners LLC lifted its position in QUALCOMM by 6.3% in the third quarter. Phillips Wealth Planners LLC now owns 1,796 shares of the wireless technology company’s stock worth $308,000 after purchasing an additional 106 shares during the period. Farther Finance Advisors LLC raised its stake in shares of QUALCOMM by 5.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 16,171 shares of the wireless technology company’s stock valued at $2,750,000 after buying an additional 793 shares in the last quarter. Capital Advisors Inc. OK lifted its holdings in shares of QUALCOMM by 30.7% during the 3rd quarter. Capital Advisors Inc. OK now owns 4,387 shares of the wireless technology company’s stock worth $746,000 after acquiring an additional 1,030 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its position in shares of QUALCOMM by 2.7% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 22,153 shares of the wireless technology company’s stock valued at $3,767,000 after acquiring an additional 587 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC increased its stake in QUALCOMM by 76.8% in the third quarter. Gladstone Institutional Advisory LLC now owns 23,995 shares of the wireless technology company’s stock valued at $4,080,000 after acquiring an additional 10,427 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

QUALCOMM Price Performance

Shares of QCOM stock opened at $165.27 on Friday. The firm’s 50 day moving average price is $168.77 and its two-hundred day moving average price is $181.99. 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 stock has a market cap of $184.11 billion, a PE ratio of 21.41, a PEG ratio of 1.63 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $114.45 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly 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. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 44.04%.

Insider Activity

In related news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,245 shares of company stock worth $2,395,407 over the last quarter. 0.08% of the stock is currently owned by company insiders.

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.