Beta Wealth Group Inc. Acquires 989 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Beta Wealth Group Inc. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,278 shares of the wireless technology company’s stock after purchasing an additional 989 shares during the period. Beta Wealth Group Inc.’s holdings in QUALCOMM were worth $1,578,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Pine Haven Investment Counsel Inc increased its position in shares of QUALCOMM by 2.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after buying an additional 50 shares during the period. Buffington Mohr McNeal increased its holdings in QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares during the period. TRUE Private Wealth Advisors lifted its stake in QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after purchasing an additional 57 shares in the last quarter. Macroview Investment Management LLC grew its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after purchasing an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its holdings in shares of QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 stock was 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 $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. 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 sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on QCOM. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $212.16.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $170.91 on Friday. 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 company has a market cap of $190.39 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $119.85 and a 12 month high of $230.63. The company has a 50-day moving average price of $168.53 and a 200-day moving average price of $182.15.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 8.62 EPS for the current year.

QUALCOMM Dividend Announcement

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 given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

QUALCOMM 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.