QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,153 shares of the wireless technology company’s stock after purchasing an additional 587 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in QUALCOMM were worth $3,767,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of QCOM. HWG Holdings LP bought a new position in QUALCOMM during the second quarter worth $30,000. Reston Wealth Management LLC bought a new position in shares of QUALCOMM during the third quarter valued at approximately $26,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC lifted its holdings in shares of 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, McClarren Financial Advisors Inc. boosted its position in QUALCOMM by 43.2% during the 2nd 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 during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Up 1.5 %

Shares of NASDAQ QCOM opened at $165.27 on Friday. The business has a fifty day simple moving average of $168.77 and a 200-day simple moving average of $181.90. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a market cap of $184.11 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.68 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $114.45 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $9.23 billion. Sell-side analysts predict 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 paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays raised their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Rosenblatt Securities boosted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 17th. Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. 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’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

Insiders Place Their Bets

In other news, 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 transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were 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 approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 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 14,245 shares of company stock valued at $2,395,407 in the last three months. Insiders own 0.08% of the company’s stock.

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.