Jmac Enterprises LLC Buys New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Jmac Enterprises LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,507 shares of the wireless technology company’s stock, valued at approximately $426,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Olympiad Research LP increased its holdings in QUALCOMM by 39.7% during the 3rd quarter. Olympiad Research LP now owns 4,679 shares of the wireless technology company’s stock worth $796,000 after purchasing an additional 1,329 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of QUALCOMM by 5.2% in the third quarter. Principal Financial Group Inc. now owns 1,415,090 shares of the wireless technology company’s stock valued at $240,636,000 after acquiring an additional 69,707 shares in the last quarter. Hanseatic Management Services Inc. grew its holdings in shares of QUALCOMM by 23.4% in the third quarter. Hanseatic Management Services Inc. now owns 380 shares of the wireless technology company’s stock valued at $65,000 after acquiring an additional 72 shares in the last quarter. Baugh & Associates LLC grew its holdings in shares of QUALCOMM by 16.7% in the third quarter. Baugh & Associates LLC now owns 26,823 shares of the wireless technology company’s stock valued at $4,418,000 after acquiring an additional 3,846 shares in the last quarter. Finally, Advisor Resource Council bought a new position in shares of QUALCOMM in the third quarter valued at approximately $1,234,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Up 2.1 %

Shares of QCOM traded up $3.69 on Thursday, hitting $176.68. 2,339,456 shares of the stock traded hands, compared to its average volume of 8,933,935. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a one year low of $119.15 and a one year high of $230.63. The company has a market capitalization of $196.82 billion, a PE ratio of 23.66, a P/E/G ratio of 1.66 and a beta of 1.28. The business has a 50 day simple moving average of $168.55 and a 200 day simple moving average of $182.14.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,146 shares of company stock valued at $2,709,186. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on QCOM shares. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Wells Fargo & Company upped their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, DZ Bank upgraded 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. One equities research 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. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $209.88.

QUALCOMM Company 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.