BNC Wealth Management LLC Has $437,000 Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

BNC Wealth Management LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,572 shares of the wireless technology company’s stock after selling 562 shares during the quarter. BNC Wealth Management LLC’s holdings in QUALCOMM were worth $437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth about $26,000. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at about $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC raised its position in shares of QUALCOMM by 71.8% during the second 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 period. Finally, Accordant Advisory Group Inc bought a new position in shares of QUALCOMM during the 3rd quarter valued at about $36,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 4.3 %

Shares of QUALCOMM stock opened at $172.99 on Thursday. The firm has a market capitalization of $192.71 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $168.55 and its 200 day moving average is $182.14. QUALCOMM Incorporated has a 1 year low of $119.15 and a 1 year high of $230.63.

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

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 44.04%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade 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 this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on 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 $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on QCOM. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $208.96.

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.