Twin City Private Wealth LLC Increases Holdings in QUALCOMM Incorporated $QCOM

Twin City Private Wealth LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,741 shares of the wireless technology company’s stock after buying an additional 224 shares during the quarter. Twin City Private Wealth LLC’s holdings in QUALCOMM were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in QCOM. Atlantic Edge Private Wealth Management LLC raised its stake in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Chung Wu Investment Group LLC purchased a new stake in QUALCOMM during the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. purchased a new stake in QUALCOMM during the 2nd quarter valued at $32,000. Finally, Atticus Wealth Management LLC raised its stake in QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 212 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 8,335 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $166.06, for a total value of $1,384,110.10. Following the completion of the sale, the chief financial officer owned 36,541 shares in the company, valued at approximately $6,067,998.46. This represents a 18.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 791 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the sale, the chief accounting officer owned 1,106 shares of the company’s stock, valued at $171,230.92. The trade was a 41.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 166,502 shares of company stock worth $27,472,615. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on QCOM shares. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Tuesday. Finally, Mizuho cut their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.95.

QUALCOMM Trading Up 2.1%

Shares of QCOM stock opened at $180.90 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a market capitalization of $195.19 billion, a PE ratio of 17.44, a PEG ratio of 2.59 and a beta of 1.23. The stock has a fifty day simple moving average of $165.85 and a two-hundred day simple moving average of $156.54.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the business posted $2.33 EPS. QUALCOMM’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s dividend payout ratio is presently 34.33%.

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.