SRN Advisors LLC Invests $1.34 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

SRN Advisors LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,882 shares of the wireless technology company’s stock, valued at approximately $1,340,000. QUALCOMM makes up about 1.2% of SRN Advisors LLC’s investment portfolio, making the stock its 27th largest position.

Several other large investors have also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter worth $27,000. HWG Holdings LP purchased a new position in QUALCOMM in the second quarter valued at about $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the 2nd quarter worth about $32,000. Aspect Partners LLC increased its position in QUALCOMM by 71.8% in 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 about $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $170.27 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market capitalization of $189.68 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.74 and a beta of 1.28. The business has a 50-day moving average price of $169.16 and a two-hundred day moving average price of $182.07.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Equities analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Piper Sandler restated 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 stock an “overweight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report 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 given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.92.

QUALCOMM Company Profile

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.