Financial Advocates Investment Management Has $1.70 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Advocates Investment Management boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,996 shares of the wireless technology company’s stock after purchasing an additional 289 shares during the quarter. Financial Advocates Investment Management’s holdings in QUALCOMM were worth $1,700,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of QCOM. FORVIS Wealth Advisors LLC boosted its holdings in QUALCOMM by 7.4% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,883 shares of the wireless technology company’s stock worth $488,000 after acquiring an additional 199 shares during the last quarter. Leelyn Smith LLC purchased a new position in QUALCOMM during the 1st quarter worth $208,000. Avior Wealth Management LLC boosted its holdings in QUALCOMM by 20.9% during the 1st quarter. Avior Wealth Management LLC now owns 14,350 shares of the wireless technology company’s stock worth $2,430,000 after acquiring an additional 2,482 shares during the last quarter. Blue Trust Inc. boosted its holdings in QUALCOMM by 7.0% during the 1st quarter. Blue Trust Inc. now owns 7,706 shares of the wireless technology company’s stock worth $1,305,000 after acquiring an additional 504 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in QUALCOMM by 2.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 434,673 shares of the wireless technology company’s stock worth $73,590,000 after acquiring an additional 10,849 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on QCOM shares. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald cut their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.92.

QUALCOMM Trading Down 2.9 %

Shares of QCOM opened at $162.77 on Friday. The business’s 50-day moving average price is $168.94 and its 200-day moving average price is $181.93. QUALCOMM Incorporated has a twelve month low of $106.69 and a twelve month high of $230.63. The stock has a market cap of $181.33 billion, a PE ratio of 21.08, a P/E/G ratio of 1.68 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 44.04%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,245 shares of company stock valued at $2,395,407. 0.08% of the stock is owned by corporate insiders.

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.