BayBridge Capital Group LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

BayBridge Capital Group LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,928 shares of the wireless technology company’s stock after buying an additional 175 shares during the period. QUALCOMM makes up approximately 1.0% of BayBridge Capital Group LLC’s portfolio, making the stock its 27th largest position. BayBridge Capital Group LLC’s holdings in QUALCOMM were worth $1,348,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter valued at approximately $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the 2nd quarter worth $32,000. Aspect Partners LLC grew its stake in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc purchased a new position in QUALCOMM in the third quarter valued at $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated 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 in the company, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Up 1.3 %

QCOM stock opened at $170.27 on Friday. QUALCOMM Incorporated has a one year low of $104.33 and a one year 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 company has a fifty day moving average of $169.16 and a 200-day moving average of $182.03. The stock has a market capitalization of $189.68 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.23 billion. As a group, analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 44.04%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday, September 17th. Finally, HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $207.92.

About QUALCOMM

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.