Tamar Securities LLC Acquires 59,323 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Tamar Securities LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 52.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,073 shares of the wireless technology company’s stock after purchasing an additional 59,323 shares during the period. QUALCOMM comprises 4.1% of Tamar Securities LLC’s holdings, making the stock its 6th biggest holding. Tamar Securities LLC’s holdings in QUALCOMM were worth $29,431,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. FLC Capital Advisors grew its stake in shares of QUALCOMM by 4.8% in the 3rd quarter. FLC Capital Advisors now owns 10,950 shares of the wireless technology company’s stock worth $1,862,000 after purchasing an additional 500 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of QUALCOMM by 4.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 9,971 shares of the wireless technology company’s stock worth $1,696,000 after purchasing an additional 393 shares during the last quarter. Alliance Wealth Advisors LLC increased its position in shares of QUALCOMM by 10.5% in the third quarter. Alliance Wealth Advisors LLC now owns 3,263 shares of the wireless technology company’s stock worth $555,000 after acquiring an additional 310 shares in the last quarter. B.O.S.S. Retirement Advisors LLC purchased a new position in shares of QUALCOMM in the third quarter worth approximately $282,000. Finally, Twelve Points Wealth Management LLC increased its position in shares of QUALCOMM by 2.2% in the third quarter. Twelve Points Wealth Management LLC now owns 13,381 shares of the wireless technology company’s stock worth $2,275,000 after acquiring an additional 285 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several analyst reports. Cantor Fitzgerald dropped their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Tigress Financial raised their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $208.75.

QUALCOMM Trading Down 1.5 %

NASDAQ:QCOM opened at $171.48 on Thursday. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a market cap of $191.37 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 1.71 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. The company’s 50 day moving average is $168.86 and its 200-day moving average is $182.20.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced 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. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by company insiders.

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.