Lewis Asset Management LLC Has $668,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Lewis Asset Management LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,928 shares of the wireless technology company’s stock after buying an additional 354 shares during the quarter. Lewis Asset Management LLC’s holdings in QUALCOMM were worth $668,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in QCOM. Leelyn Smith LLC bought a new stake in QUALCOMM in the 1st quarter valued at about $208,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of QUALCOMM by 3.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 60,297 shares of the wireless technology company’s stock valued at $10,208,000 after buying an additional 2,018 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in QUALCOMM by 3.2% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,405 shares of the wireless technology company’s stock worth $2,100,000 after buying an additional 384 shares in the last quarter. PFG Advisors increased its stake in QUALCOMM by 6.9% during the 1st quarter. PFG Advisors now owns 3,453 shares of the wireless technology company’s stock worth $585,000 after acquiring an additional 223 shares during the period. Finally, Zevenbergen Capital Investments LLC raised its holdings in QUALCOMM by 289.9% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 92,602 shares of the wireless technology company’s stock valued at $15,678,000 after acquiring an additional 68,850 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Barclays raised their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.16.

QUALCOMM Price Performance

QUALCOMM stock opened at $172.91 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a one year low of $119.15 and a one year high of $230.63. The stock’s 50 day moving average is $168.55 and its 200 day moving average is $182.14. The firm has a market cap of $192.62 billion, a P/E ratio of 22.40, a P/E/G ratio of 1.66 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. 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 dividend payout ratio is 44.04%.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock worth $2,709,186 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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.