QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Fortitude Family Office LLC

Fortitude Family Office LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 62.6% during the third quarter, Holdings Channel reports. The firm owned 395 shares of the wireless technology company’s stock after acquiring an additional 152 shares during the period. Fortitude Family Office LLC’s holdings in QUALCOMM were worth $67,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of QUALCOMM by 44.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 388,122 shares of the wireless technology company’s stock worth $65,709,000 after acquiring an additional 120,088 shares during the period. Financial Sense Advisors Inc. boosted its holdings in QUALCOMM by 2.7% in the first quarter. Financial Sense Advisors Inc. now owns 8,399 shares of the wireless technology company’s stock valued at $1,422,000 after purchasing an additional 217 shares during the last quarter. Advisor Resource Council grew its position in QUALCOMM by 14.8% during the 1st quarter. Advisor Resource Council now owns 7,360 shares of the wireless technology company’s stock worth $1,246,000 after purchasing an additional 950 shares during the period. First Trust Direct Indexing L.P. raised its stake in shares of QUALCOMM by 17.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 26,120 shares of the wireless technology company’s stock valued at $4,422,000 after buying an additional 3,872 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its holdings in shares of QUALCOMM by 2.1% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 5,841 shares of the wireless technology company’s stock valued at $989,000 after buying an additional 121 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on QCOM shares. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Rosenblatt Securities boosted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $176.00 on Wednesday. The company has a market cap of $196.06 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $106.18 and a twelve month high of $230.63. The company’s 50-day moving average price is $169.19 and its 200-day moving average price is $182.17. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last released its earnings results 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. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.93%. QUALCOMM’s payout ratio is 44.04%.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,245 shares of company stock valued at $3,679,407. Insiders own 0.08% of the company’s stock.

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.