Massachusetts Wealth Management Buys Shares of 4,848 QUALCOMM Incorporated (NASDAQ:QCOM)

Massachusetts Wealth Management purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,848 shares of the wireless technology company’s stock, valued at approximately $824,000.

Several other hedge funds also recently modified their holdings of QCOM. DGS Capital Management LLC bought a new stake in shares of QUALCOMM in the first quarter valued at about $265,000. Thrive Wealth Management LLC grew its holdings in shares of QUALCOMM by 4.1% during the 1st quarter. Thrive Wealth Management LLC now owns 2,246 shares of the wireless technology company’s stock worth $380,000 after purchasing an additional 89 shares in the last quarter. Transform Wealth LLC increased its position in shares of QUALCOMM by 2.3% during the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after purchasing an additional 66 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of QUALCOMM by 10.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,277 shares of the wireless technology company’s stock valued at $555,000 after purchasing an additional 319 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its position in QUALCOMM by 89.7% in the first quarter. Artemis Investment Management LLP now owns 72,508 shares of the wireless technology company’s stock worth $12,269,000 after purchasing an additional 34,282 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Up 2.5 %

Shares of QCOM traded up $4.19 on Friday, reaching $172.29. 1,305,852 shares of the company’s stock were exchanged, compared to its average volume of 8,976,732. 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 $191.93 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $169.19 and a two-hundred day moving average price of $182.05.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Research analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is 44.04%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated 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 transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,245 shares of company stock valued at $3,679,407. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QCOM. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.