Mattern Wealth Management LLC Purchases 82 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Mattern Wealth Management LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,544 shares of the wireless technology company’s stock after purchasing an additional 82 shares during the period. Mattern Wealth Management LLC’s holdings in QUALCOMM were worth $263,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Oakworth Capital Inc. increased its position in QUALCOMM by 11.8% in the 3rd quarter. Oakworth Capital Inc. now owns 3,833 shares of the wireless technology company’s stock worth $652,000 after buying an additional 406 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of QUALCOMM by 28.6% in the third quarter. Foundations Investment Advisors LLC now owns 13,582 shares of the wireless technology company’s stock worth $2,310,000 after acquiring an additional 3,023 shares during the last quarter. Townsend Asset Management Corp NC ADV increased its position in QUALCOMM by 4.0% during the third quarter. Townsend Asset Management Corp NC ADV now owns 67,742 shares of the wireless technology company’s stock worth $11,519,000 after acquiring an additional 2,596 shares during the period. Waterway Wealth Management LLC boosted its holdings in QUALCOMM by 2.9% in the 3rd quarter. Waterway Wealth Management LLC now owns 4,150 shares of the wireless technology company’s stock valued at $706,000 after purchasing an additional 117 shares during the period. Finally, Raleigh Capital Management Inc. grew its position in QUALCOMM by 5.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,020 shares of the wireless technology company’s stock worth $854,000 after purchasing an additional 247 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.1 %

Shares of QUALCOMM stock traded up $1.78 during trading on Tuesday, hitting $170.79. 2,761,894 shares of the company were exchanged, compared to its average volume of 9,007,472. The firm has a market capitalization of $190.26 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The firm’s fifty day moving average price is $169.24 and its 200 day moving average price is $182.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during 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%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share 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 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following 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 filing with the SEC, which is available through the SEC website. In other news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, 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 the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the subject of several research reports. Robert W. Baird increased their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald reduced their target price on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

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.