First City Capital Management Inc. Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First City Capital Management Inc. grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,507 shares of the wireless technology company’s stock after buying an additional 68 shares during the period. First City Capital Management Inc.’s holdings in QUALCOMM were worth $936,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Princeton Capital Management LLC grew its stake in shares of QUALCOMM by 3.1% during the 3rd quarter. Princeton Capital Management LLC now owns 41,960 shares of the wireless technology company’s stock valued at $7,135,000 after buying an additional 1,259 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of QUALCOMM by 12.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 15,192 shares of the wireless technology company’s stock valued at $2,583,000 after buying an additional 1,667 shares during the period. Wrapmanager Inc. grew its stake in shares of QUALCOMM by 18.9% during the 3rd quarter. Wrapmanager Inc. now owns 3,261 shares of the wireless technology company’s stock valued at $555,000 after buying an additional 519 shares during the period. Prospera Financial Services Inc grew its stake in shares of QUALCOMM by 83.6% during the 3rd quarter. Prospera Financial Services Inc now owns 34,235 shares of the wireless technology company’s stock valued at $5,826,000 after buying an additional 15,593 shares during the period. Finally, Smead Capital Management Inc. grew its stake in shares of QUALCOMM by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 687,507 shares of the wireless technology company’s stock valued at $116,911,000 after buying an additional 23,188 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was 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 owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,146 shares of company stock worth $2,709,186. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $164.50 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The firm has a 50-day simple moving average of $168.42 and a 200 day simple moving average of $182.23. The company has a market cap of $182.76 billion, a PE ratio of 18.30, a P/E/G ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently announced 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. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCOM. Benchmark reissued a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Evercore ISI lifted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $210.92.

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.