Blossom Wealth Management Acquires 64 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Blossom Wealth Management lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,551 shares of the wireless technology company’s stock after acquiring an additional 64 shares during the period. Blossom Wealth Management’s holdings in QUALCOMM were worth $434,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QCOM. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC boosted its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. raised its holdings in QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on QCOM. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Cantor Fitzgerald cut their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird increased their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $207.92.

Read Our Latest Report on QUALCOMM

QUALCOMM Stock Performance

Shares of QCOM opened at $173.18 on Wednesday. The stock has a 50-day moving average of $169.31 and a two-hundred day moving average of $182.26. The stock has a market cap of $192.92 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. 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 (NASDAQ:QCOM – Get Free Report) last issued its earnings results 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 firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, research analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.96%. QUALCOMM’s dividend payout ratio is presently 44.04%.

QUALCOMM Company 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.

Further Reading

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