Castleview Partners LLC Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Castleview Partners LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 30.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,477 shares of the wireless technology company’s stock after buying an additional 341 shares during the quarter. Castleview Partners LLC’s holdings in QUALCOMM were worth $251,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Robinson Value Management Ltd. grew its holdings in shares of QUALCOMM by 3.2% during the 3rd quarter. Robinson Value Management Ltd. now owns 25,917 shares of the wireless technology company’s stock worth $4,407,000 after purchasing an additional 804 shares during the period. Trilogy Capital Inc. lifted its position in QUALCOMM by 9.7% in the third quarter. Trilogy Capital Inc. now owns 19,179 shares of the wireless technology company’s stock valued at $3,261,000 after buying an additional 1,698 shares during the last quarter. Gilliland Jeter Wealth Management LLC boosted its stake in QUALCOMM by 5.3% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 1,380 shares of the wireless technology company’s stock worth $235,000 after buying an additional 70 shares during the period. Narus Financial Partners LLC increased its position in shares of QUALCOMM by 9.9% during the third quarter. Narus Financial Partners LLC now owns 4,051 shares of the wireless technology company’s stock valued at $689,000 after acquiring an additional 365 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of QUALCOMM by 24.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 483,029 shares of the wireless technology company’s stock valued at $82,139,000 after acquiring an additional 94,169 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Wells Fargo & Company lifted 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. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Robert W. Baird raised their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 completion of the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

Shares of QCOM traded down $3.53 during midday trading on Monday, reaching $167.39. 3,071,423 shares of the stock were exchanged, compared to its average volume of 9,017,420. The company has a market capitalization of $186.81 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.79 and a beta of 1.28. 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 twelve month low of $104.33 and a twelve month high of $230.63. The business’s 50-day moving average price is $169.11 and its 200 day moving average price is $182.25.

QUALCOMM (NASDAQ:QCOM) last announced its 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. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed 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. This represents a $3.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

QUALCOMM 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.