Stiles Financial Services Inc Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Stiles Financial Services Inc raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,739 shares of the wireless technology company’s stock after buying an additional 1,060 shares during the period. QUALCOMM comprises approximately 1.5% of Stiles Financial Services Inc’s holdings, making the stock its 11th largest position. Stiles Financial Services Inc’s holdings in QUALCOMM were worth $4,377,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in QCOM. Presidio Capital Management LLC bought a new position in QUALCOMM in the 3rd quarter worth $482,000. Smith Thornton Advisors LLC boosted its holdings in QUALCOMM by 30.3% in the 3rd quarter. Smith Thornton Advisors LLC now owns 2,906 shares of the wireless technology company’s stock worth $494,000 after buying an additional 676 shares during the period. Lewis Asset Management LLC boosted its holdings in QUALCOMM by 9.9% in the 3rd quarter. Lewis Asset Management LLC now owns 3,928 shares of the wireless technology company’s stock worth $668,000 after buying an additional 354 shares during the period. Hudson Value Partners LLC boosted its holdings in QUALCOMM by 1.6% in the 3rd quarter. Hudson Value Partners LLC now owns 32,402 shares of the wireless technology company’s stock worth $5,510,000 after buying an additional 520 shares during the period. Finally, Portside Wealth Group LLC boosted its holdings in QUALCOMM by 9.4% in the 3rd quarter. Portside Wealth Group LLC now owns 16,092 shares of the wireless technology company’s stock worth $2,736,000 after buying an additional 1,381 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $171.65 on Friday. The firm’s 50 day moving average price is $168.55 and its 200-day moving average price is $182.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a one year low of $119.85 and a one year high of $230.63. The firm has a market cap of $191.22 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 issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

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 issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Analyst Ratings Changes

Several research firms have commented on QCOM. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday. Citigroup dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Evercore ISI increased their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.16.

Insiders Place Their Bets

In other QUALCOMM 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 directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was 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 ninety days. 0.08% of the stock is owned by corporate insiders.

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.