ProShare Advisors LLC Acquires 66,930 Shares of Qualcomm Incorporated $QCOM

ProShare Advisors LLC raised its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,372,719 shares of the wireless technology company’s stock after purchasing an additional 66,930 shares during the quarter. ProShare Advisors LLC’s holdings in Qualcomm were worth $252,635,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ABS Investment Management LLC acquired a new stake in Qualcomm in the second quarter valued at approximately $34,000. ABS Direct Equity Fund LLC purchased a new position in Qualcomm in the second quarter valued at $34,000. Your Advocates Ltd. LLP purchased a new stake in Qualcomm during the 1st quarter worth about $26,000. Burk Holdings LLC increased its stake in Qualcomm by 191.7% in the second quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock valued at $39,000 after purchasing an additional 138 shares during the last quarter. Finally, Harborfront Financial Group LLC purchased a new stake in Qualcomm in the second quarter valued at $41,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other Qualcomm news, EVP Heather Ace sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the sale, the executive vice president directly owned 36,535 shares in the company, valued at $5,372,106.40. This trade represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of Qualcomm stock in a transaction on Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the transaction, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. The trade was a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,458 shares of company stock worth $6,198,144 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on QCOM. Royal Bank Of Canada upped their target price on shares of Qualcomm from $160.00 to $180.00 and gave the company a “sector perform” rating in a report on Wednesday, September 9th. Benchmark dropped their price objective on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Wells Fargo & Company cut their price target on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. TD Cowen increased their target price on shares of Qualcomm from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, October 19th. Finally, UBS Group reduced their target price on Qualcomm from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $205.83.

Qualcomm Stock Down 11.1%

QCOM opened at $164.79 on Friday. The firm’s 50-day simple moving average is $177.83 and its 200-day simple moving average is $169.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The firm has a market cap of $175.97 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.71 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same period in the previous year, the company posted $2.77 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts anticipate that Qualcomm Incorporated will post 7.71 EPS for the current fiscal year.

Qualcomm Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. Qualcomm’s payout ratio is currently 42.59%.

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.