QUALCOMM Incorporated (NASDAQ:QCOM) Position Boosted by E&G Advisors LP

E&G Advisors LP grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,341 shares of the wireless technology company’s stock after acquiring an additional 198 shares during the period. E&G Advisors LP’s holdings in QUALCOMM were worth $738,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of QCOM. Wedge Capital Management L L P NC increased its position in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Czech National Bank increased its holdings in shares of QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after acquiring an additional 13,888 shares during the last quarter. Legal & General Group Plc raised its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. Finally, City Holding Co. lifted its holdings in QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 0.1 %

Shares of QCOM opened at $170.92 on Friday. The stock has a 50 day simple moving average of $169.11 and a 200-day simple moving average of $182.19. 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 market cap of $190.75 billion, a PE ratio of 22.97, a PEG ratio of 1.79 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, sell-side analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

Several equities analysts have commented on QCOM shares. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, July 17th. Finally, Barclays lifted their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.75.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on 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 directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. 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 through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’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 transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by 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.