Stockman Wealth Management Inc. Acquires 230 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Stockman Wealth Management Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,720 shares of the wireless technology company’s stock after purchasing an additional 230 shares during the quarter. Stockman Wealth Management Inc.’s holdings in QUALCOMM were worth $1,143,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QCOM. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC increased its stake in shares of 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, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred 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 sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred 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 sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the 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 approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,146 shares of company stock valued at $2,709,186. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.2 %

Shares of QUALCOMM stock traded down $2.00 during trading on Friday, reaching $170.91. 10,736,646 shares of the stock were exchanged, compared to its average volume of 9,039,770. QUALCOMM Incorporated has a 1 year low of $119.85 and a 1 year high of $230.63. The firm has a market cap of $190.39 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The stock’s fifty day moving average is $168.53 and its 200 day moving average is $182.29. 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 (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 39.70%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 8.62 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. Robert W. Baird raised their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Morgan Stanley reduced their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday. Barclays lifted 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. Evercore ISI lifted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday. Finally, Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $212.16.

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.