Patriot Financial Group Insurance Agency LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Patriot Financial Group Insurance Agency LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.2% during the 3rd quarter, Holdings Channel reports. The fund owned 24,342 shares of the wireless technology company’s stock after purchasing an additional 1,643 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in QUALCOMM were worth $4,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Legal & General Group Plc grew its position in QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM in the 1st quarter worth approximately $1,171,516,000. Van ECK Associates Corp increased its position in shares of QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after buying an additional 173,673 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in QUALCOMM by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,476,901 shares of the wireless technology company’s stock worth $588,639,000 after buying an additional 26,187 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 1.3 %

QUALCOMM stock traded up $2.25 during mid-day trading on Monday, reaching $172.52. 1,465,088 shares of the company were exchanged, compared to its average volume of 8,960,767. QUALCOMM Incorporated has a 12-month low of $106.18 and a 12-month high of $230.63. The business has a fifty day moving average of $169.16 and a 200 day moving average of $182.15. The firm has a market cap of $192.19 billion, a P/E ratio of 22.17, a PEG ratio of 1.71 and a beta of 1.28. 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) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Research analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QCOM shares. DZ Bank raised shares of 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. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

Insider Activity at QUALCOMM

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 owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were 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 owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. 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 the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 over the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Company Profile

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.