Wolff Wiese Magana LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Wolff Wiese Magana LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 16,375 shares of the wireless technology company’s stock after buying an additional 184 shares during the quarter. QUALCOMM comprises approximately 1.9% of Wolff Wiese Magana LLC’s holdings, making the stock its 12th biggest position. Wolff Wiese Magana LLC’s holdings in QUALCOMM were worth $2,785,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC grew its stake in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares during the last quarter. Czech National Bank grew its position in shares of QUALCOMM by 6.5% in the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after purchasing an additional 13,888 shares during the last quarter. Legal & General Group Plc increased its stake in shares of QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. City Holding Co. raised its position in shares of QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares during the last quarter. Finally, Heritage Wealth Management Inc. purchased a new stake in QUALCOMM in the 2nd quarter valued at approximately $1,539,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $171.48 on Thursday. 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 firm has a market capitalization of $191.37 billion, a P/E ratio of 23.05, a PEG ratio of 1.71 and a beta of 1.28. The firm has a fifty day moving average of $168.86 and a 200-day moving average of $182.20. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS 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 company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was 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 directly owns 229,987 shares in the company, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Tigress Financial raised their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $208.75.

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.