HBW Advisory Services LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

HBW Advisory Services LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.4% in the third quarter, Holdings Channel.com reports. The firm owned 1,879 shares of the wireless technology company’s stock after purchasing an additional 192 shares during the quarter. HBW Advisory Services LLC’s holdings in QUALCOMM were worth $320,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the first quarter valued at approximately $27,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the 2nd quarter valued at $32,000. Aspect Partners LLC grew its position in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new stake in shares of QUALCOMM during the first quarter worth $37,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $168.90 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. The company has a 50 day moving average price of $168.00 and a 200-day moving average price of $182.10. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm has a market cap of $188.15 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. QUALCOMM’s payout ratio is 45.70%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. KeyCorp raised their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 price target on shares of QUALCOMM in a report on Thursday, August 1st. Robert W. Baird raised their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Susquehanna upped their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, 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 transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is owned by corporate insiders.

QUALCOMM 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.