Naviter Wealth LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Cerbat Gem

Naviter Wealth LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,691 shares of the wireless technology company’s stock after buying an additional 144 shares during the period. Naviter Wealth LLC’s holdings in QUALCOMM were worth $1,818,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Congress Asset Management Co. MA purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $222,000. Signal Advisors Wealth LLC bought a new stake in shares of QUALCOMM in the 1st quarter worth about $612,000. Legacy Private Trust Co. lifted its position in shares of QUALCOMM by 12.1% during the first quarter. Legacy Private Trust Co. now owns 3,084 shares of the wireless technology company’s stock worth $522,000 after purchasing an additional 332 shares during the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new position in QUALCOMM in the first quarter worth about $1,884,000. Finally, Wedmont Private Capital raised its stake in QUALCOMM by 7.4% during the first quarter. Wedmont Private Capital now owns 9,106 shares of the wireless technology company’s stock valued at $1,599,000 after buying an additional 631 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM stock traded up $0.70 during trading hours on Thursday, hitting $172.18. 723,980 shares of the stock traded hands, compared to its average volume of 9,033,611. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $168.86 and a 200 day simple moving average of $182.20. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a market cap of $192.15 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Equities analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on QCOM shares. Tigress Financial lifted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. 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. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.75.

Get Our Latest Analysis on QUALCOMM

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction 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 owns 229,987 shares of the company’s stock, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM 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 transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 in the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM Profile

(Free Report)

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.

See Also

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