Quantum Private Wealth LLC Has $3.63 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Quantum Private Wealth LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,346 shares of the wireless technology company’s stock after selling 211 shares during the quarter. QUALCOMM comprises approximately 1.2% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 14th biggest holding. Quantum Private Wealth LLC’s holdings in QUALCOMM were worth $3,630,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QCOM. HWG Holdings LP acquired a new stake in QUALCOMM during the second quarter worth about $30,000. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Connections Group Inc. bought a new position in QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC raised its holdings in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the last quarter. Finally, McClarren Financial Advisors Inc. increased its stake in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, 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 sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on 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 directly owns 51,437 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 16,146 shares of company stock valued at $2,709,186. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on QCOM shares. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Barclays upped their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Robert W. Baird raised their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $212.16.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $171.16 on Friday. The business has a 50 day moving average of $168.55 and a two-hundred day moving average of $182.14. The company has a market cap of $190.67 billion, a P/E ratio of 22.40, a PEG ratio of 1.66 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 $119.85 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. As a group, analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is 44.04%.

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.