Empirical Asset Management LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Empirical Asset Management LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,515 shares of the wireless technology company’s stock after purchasing an additional 114 shares during the period. Empirical Asset Management LLC’s holdings in QUALCOMM were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of QCOM. ORG Wealth Partners LLC acquired a new stake in QUALCOMM during the 3rd quarter worth $741,000. Procyon Advisors LLC boosted its stake in QUALCOMM by 3.2% during the 3rd quarter. Procyon Advisors LLC now owns 37,152 shares of the wireless technology company’s stock worth $6,318,000 after purchasing an additional 1,160 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in QUALCOMM by 12.4% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,098 shares of the wireless technology company’s stock worth $1,377,000 after purchasing an additional 895 shares during the period. Martin Capital Advisors LLP boosted its stake in QUALCOMM by 2.8% during the 3rd quarter. Martin Capital Advisors LLP now owns 3,621 shares of the wireless technology company’s stock worth $616,000 after purchasing an additional 99 shares during the period. Finally, Viking Fund Management LLC lifted its stake in shares of QUALCOMM by 10.8% in the 3rd quarter. Viking Fund Management LLC now owns 72,000 shares of the wireless technology company’s stock worth $12,244,000 after acquiring an additional 7,000 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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. In the last quarter, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on QCOM shares. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Tigress Financial raised their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Cantor Fitzgerald cut their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Finally, HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.38.

QUALCOMM Stock Up 1.5 %

Shares of QCOM stock traded up $2.50 during trading on Monday, hitting $172.48. 888,105 shares of the company were exchanged, compared to its average volume of 9,022,047. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market capitalization of $192.49 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 1.71 and a beta of 1.28. The business’s 50-day simple moving average is $167.85 and its 200 day simple moving average is $182.18. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 analysts’ expectations of $9.23 billion. As a group, analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

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.