QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Ellis Investment Partners LLC

Ellis Investment Partners LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,261 shares of the wireless technology company’s stock after purchasing an additional 1,012 shares during the quarter. Ellis Investment Partners LLC’s holdings in QUALCOMM were worth $2,595,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of QCOM. Hennion & Walsh Asset Management Inc. raised its holdings in shares of QUALCOMM by 25.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,072 shares of the wireless technology company’s stock valued at $2,044,000 after acquiring an additional 2,457 shares during the last quarter. Vicus Capital raised its holdings in shares of QUALCOMM by 9.9% during the first quarter. Vicus Capital now owns 1,605 shares of the wireless technology company’s stock valued at $272,000 after acquiring an additional 144 shares during the last quarter. Breakwater Capital Group raised its holdings in shares of QUALCOMM by 2.9% during the first quarter. Breakwater Capital Group now owns 4,545 shares of the wireless technology company’s stock valued at $769,000 after acquiring an additional 128 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in shares of QUALCOMM by 8.2% during the first quarter. SteelPeak Wealth LLC now owns 146,551 shares of the wireless technology company’s stock valued at $24,811,000 after acquiring an additional 11,138 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in shares of QUALCOMM during the first quarter valued at approximately $1,475,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at approximately $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. Over 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 1.3 %

Shares of QCOM traded up $2.17 during midday trading on Friday, hitting $170.27. 5,496,607 shares of the stock were exchanged, compared to its average volume of 8,996,961. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a fifty day simple moving average of $169.16 and a 200 day simple moving average of $182.07. The firm has a market cap of $189.68 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.74 and a beta of 1.28. 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 (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal 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 is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.00%. QUALCOMM’s dividend payout ratio is currently 44.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Wells Fargo & Company upped their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Finally, Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM 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.