Narus Financial Partners LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Narus Financial Partners LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,051 shares of the wireless technology company’s stock after acquiring an additional 365 shares during the quarter. Narus Financial Partners LLC’s holdings in QUALCOMM were worth $689,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. HWG Holdings LP bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter worth $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter valued at $32,000. Aspect Partners LLC increased its position in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. raised its holdings in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QCOM. Barclays lifted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.75.

QUALCOMM Trading Down 0.1 %

QUALCOMM stock opened at $170.92 on Monday. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The business’s fifty day moving average is $169.11 and its 200 day moving average is $182.25. The stock has a market capitalization of $190.75 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.79 and a beta of 1.28. 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 (NASDAQ:QCOM) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

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 $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 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 document filed with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. 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 valued at $3,679,407. 0.08% of the stock is owned by company 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.