Lake Street Advisors Group LLC Acquires 454 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lake Street Advisors Group LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,216 shares of the wireless technology company’s stock after acquiring an additional 454 shares during the period. Lake Street Advisors Group LLC’s holdings in QUALCOMM were worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Court Place Advisors LLC increased its holdings in shares of QUALCOMM by 14.3% during the third quarter. Court Place Advisors LLC now owns 13,284 shares of the wireless technology company’s stock worth $2,259,000 after purchasing an additional 1,666 shares during the period. Cullinan Associates Inc. grew its position in QUALCOMM by 10.1% during the third quarter. Cullinan Associates Inc. now owns 20,012 shares of the wireless technology company’s stock worth $3,361,000 after buying an additional 1,834 shares in the last quarter. Ballentine Partners LLC increased its stake in QUALCOMM by 3.3% during the 3rd quarter. Ballentine Partners LLC now owns 25,662 shares of the wireless technology company’s stock worth $4,364,000 after acquiring an additional 824 shares during the period. Garrison Point Advisors LLC raised its holdings in QUALCOMM by 2.3% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,760 shares of the wireless technology company’s stock valued at $1,150,000 after acquiring an additional 150 shares in the last quarter. Finally, Busey Bank lifted its position in shares of QUALCOMM by 2.3% during the 3rd quarter. Busey Bank now owns 155,336 shares of the wireless technology company’s stock valued at $26,415,000 after acquiring an additional 3,534 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on QCOM. Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Susquehanna dropped their target price on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Friday, August 2nd. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, 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 value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,245 shares of company stock worth $3,679,407. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 2.6 %

QUALCOMM stock traded up $4.35 during mid-day trading on Friday, hitting $172.45. 1,173,671 shares of the stock were exchanged, compared to its average volume of 8,976,094. The firm’s fifty day simple moving average is $169.30 and its two-hundred day simple moving average is $182.15. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock has a market capitalization of $192.11 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.74 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating 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 analysts’ expectations of $9.23 billion. Analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

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.