Nvwm LLC Buys 4,963 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Nvwm LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 4,241.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,080 shares of the wireless technology company’s stock after purchasing an additional 4,963 shares during the quarter. Nvwm LLC’s holdings in QUALCOMM were worth $864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the third quarter worth $26,000. HWG Holdings LP acquired a new stake in QUALCOMM in the 2nd quarter worth about $30,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM in the 2nd quarter worth about $32,000. Aspect Partners LLC boosted its holdings 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 purchasing an additional 74 shares during the period. Finally, Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade 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 the SEC website. In related news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on 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 owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 sale, the chief financial officer now owns 51,437 shares of the company’s stock, 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. In the last three months, insiders have sold 14,245 shares of company stock valued at $2,395,407. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on QCOM shares. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Friday, August 2nd. Wells Fargo & Company upped their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird increased their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.92.

Get Our Latest Analysis on QUALCOMM

QUALCOMM Trading Up 1.5 %

NASDAQ QCOM traded up $2.50 during trading hours on Friday, reaching $165.27. The company’s stock had a trading volume of 6,498,125 shares, compared to its average volume of 7,017,771. QUALCOMM Incorporated has a 52 week low of $114.45 and a 52 week high of $230.63. 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 stock has a market cap of $184.11 billion, a P/E ratio of 21.41, a P/E/G ratio of 1.63 and a beta of 1.28. The firm has a fifty day simple moving average of $168.77 and a 200-day simple moving average of $181.99.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last released 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. 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 the consensus estimate of $9.23 billion. Equities analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 44.04%.

About QUALCOMM

(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.

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