Oakworth Capital Inc. Has $652,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Oakworth Capital Inc. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,833 shares of the wireless technology company’s stock after acquiring an additional 406 shares during the period. Oakworth Capital Inc.’s holdings in QUALCOMM were worth $652,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at about $27,000. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at about $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC boosted its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC acquired a new position in QUALCOMM in the first quarter valued at about $37,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QCOM. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Susquehanna reduced their price target on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Friday, August 2nd. Finally, Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.92.

QUALCOMM Stock Down 0.1 %

Shares of NASDAQ QCOM opened at $168.90 on Tuesday. The stock has a market cap of $188.15 billion, a P/E ratio of 21.89, a P/E/G ratio of 1.71 and a beta of 1.28. The firm has a 50 day moving average price of $169.24 and a 200 day moving average price of $182.25. 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 52-week low of $104.33 and a 52-week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 44.04%.

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.