Townsend Asset Management Corp NC ADV Has $11.52 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Townsend Asset Management Corp NC ADV lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,742 shares of the wireless technology company’s stock after purchasing an additional 2,596 shares during the period. QUALCOMM comprises 4.3% of Townsend Asset Management Corp NC ADV’s holdings, making the stock its 3rd biggest holding. Townsend Asset Management Corp NC ADV’s holdings in QUALCOMM were worth $11,519,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Waterway Wealth Management LLC increased its stake in QUALCOMM by 2.9% in the 3rd quarter. Waterway Wealth Management LLC now owns 4,150 shares of the wireless technology company’s stock worth $706,000 after purchasing an additional 117 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of QUALCOMM by 5.2% in the third quarter. Raleigh Capital Management Inc. now owns 5,020 shares of the wireless technology company’s stock worth $854,000 after buying an additional 247 shares during the period. Plimoth Trust Co. LLC increased its position in shares of QUALCOMM by 5.3% in the third quarter. Plimoth Trust Co. LLC now owns 36,234 shares of the wireless technology company’s stock worth $6,162,000 after acquiring an additional 1,814 shares in the last quarter. Venture Visionary Partners LLC raised its holdings in shares of QUALCOMM by 16.7% during the third quarter. Venture Visionary Partners LLC now owns 61,359 shares of the wireless technology company’s stock valued at $10,434,000 after acquiring an additional 8,789 shares during the period. Finally, Western Financial Corp CA raised its holdings in shares of QUALCOMM by 299.3% during the third quarter. Western Financial Corp CA now owns 5,914 shares of the wireless technology company’s stock valued at $1,006,000 after acquiring an additional 4,433 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 1.1 %

QUALCOMM stock opened at $169.01 on Tuesday. 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 Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a fifty day moving average price of $169.24 and a two-hundred day moving average price of $182.25. The firm has a market cap of $188.62 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.79 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Free Report) 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 the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, 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. Shareholders 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 is Thursday, December 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Activity

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 stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,245 shares of company stock worth $3,679,407. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on QCOM shares. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Cantor Fitzgerald lowered their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Barclays raised their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Finally, Susquehanna reduced their price target on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

Get Our Latest Stock Report on QUALCOMM

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.

Further Reading

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