Lewis Asset Management LLC Buys 354 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lewis Asset Management LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,928 shares of the wireless technology company’s stock after purchasing an additional 354 shares during the quarter. Lewis Asset Management LLC’s holdings in QUALCOMM were worth $668,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC increased its stake in shares of QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after buying an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of QUALCOMM by 39.9% during the third 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 buying an additional 50,438 shares during the last quarter. Czech National Bank raised its stake in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after buying an additional 13,888 shares during the last quarter. Legal & General Group Plc lifted its holdings 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 valued at $1,999,114,000 after buying an additional 86,195 shares during the period. Finally, Heritage Wealth Management Inc. bought a new position in QUALCOMM in the second quarter valued at approximately $1,539,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $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. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday. HSBC cut 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. Finally, Barclays lifted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $212.16.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $172.91 on Friday. QUALCOMM Incorporated has a fifty-two week low of $119.15 and a fifty-two week high of $230.63. The stock has a market capitalization of $192.62 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.66 and a beta of 1.28. 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 business has a 50-day moving average of $168.55 and a 200-day moving average of $182.14.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share 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 paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 44.04%.

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.