Stratos Wealth Partners LTD. Buys 12,444 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Stratos Wealth Partners LTD. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 11.7% in the third quarter, HoldingsChannel.com reports. The fund owned 118,592 shares of the wireless technology company’s stock after acquiring an additional 12,444 shares during the period. Stratos Wealth Partners LTD.’s holdings in QUALCOMM were worth $20,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wedge Capital Management L L P NC boosted its position in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Czech National Bank raised its stake in QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after buying an additional 13,888 shares during the period. Legal & General Group Plc lifted its holdings in QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. City Holding Co. grew its stake in QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 199 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on QCOM. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Finally, Tigress Financial increased their price objective on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One equities 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 assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $208.75.

Read Our Latest Report on QUALCOMM

QUALCOMM Price Performance

NASDAQ:QCOM opened at $170.92 on Friday. 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 12-month low of $104.33 and a 12-month high of $230.63. The stock’s 50 day moving average price is $169.11 and its two-hundred day moving average price is $182.12. The firm has a market capitalization of $190.40 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 1.79 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current 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 paid 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 (DPR) is currently 44.04%.

Insider Buying and Selling at QUALCOMM

In other 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 transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 owns 32,231 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock valued at $3,679,407 in the last three months. 0.08% of the stock is currently owned by company insiders.

About QUALCOMM

(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.

Recommended Stories

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM – Free Report).