Inscription Capital LLC Buys 305 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Cerbat Gem

Inscription Capital LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,443 shares of the wireless technology company’s stock after acquiring an additional 305 shares during the period. Inscription Capital LLC’s holdings in QUALCOMM were worth $755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. HWG Holdings LP bought a new stake in QUALCOMM in the 2nd quarter valued at about $30,000. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter worth $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the 2nd quarter worth about $32,000. Aspect Partners LLC raised its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its stake in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s 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 transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 in the last quarter. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Piper Sandler reiterated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Barclays upped their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued 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 target price of $207.92.

View Our Latest Stock Report on QCOM

QUALCOMM Stock Up 0.5 %

Shares of NASDAQ:QCOM traded up $0.91 during trading on Monday, reaching $171.18. 530,450 shares of the stock traded hands, compared to its average volume of 8,956,273. QUALCOMM Incorporated has a 52-week low of $106.18 and a 52-week high of $230.63. The stock has a market cap of $191.04 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The stock has a 50-day moving average of $169.16 and a two-hundred day moving average of $182.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company 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 dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. QUALCOMM’s dividend payout ratio is currently 45.70%.

QUALCOMM Profile

(Free Report)

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.

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