Carmel Capital Partners LLC Acquires 855 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Carmel Capital Partners LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,314 shares of the wireless technology company’s stock after buying an additional 855 shares during the quarter. QUALCOMM makes up approximately 1.0% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 16th biggest holding. Carmel Capital Partners LLC’s holdings in QUALCOMM were worth $2,604,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of QCOM. Wedge Capital Management L L P NC lifted its stake in shares of QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after purchasing an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares in the last quarter. Czech National Bank lifted its position in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after buying an additional 13,888 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $1,539,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 1.2 %

Shares of NASDAQ:QCOM opened at $170.91 on Friday. The firm has a market capitalization of $190.39 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The business’s 50 day moving average price is $168.53 and its 200-day moving average price is $182.15. 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 $119.85 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 39.70%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 8.62 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on QCOM shares. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Rosenblatt Securities upped their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.16.

Get Our Latest Research Report on QCOM

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock valued at $2,709,186 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Company Profile

(Free Report)

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.

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