Taylor Frigon Capital Management LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Taylor Frigon Capital Management LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,598 shares of the wireless technology company’s stock after buying an additional 194 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in QUALCOMM were worth $1,632,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $1,171,516,000. Massachusetts Financial Services Co. MA boosted its position in QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after buying an additional 3,047,947 shares during the period. International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after buying an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after buying an additional 1,519,781 shares during the period. Finally, Maj Invest Holding A S bought a new stake in shares of QUALCOMM in the 3rd quarter valued at about $229,078,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Up 1.1 %

Shares of QCOM traded up $1.85 during mid-day trading on Thursday, reaching $168.45. The company had a trading volume of 1,815,739 shares, compared to its average volume of 8,998,836. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market capitalization of $187.99 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The firm has a 50-day moving average price of $169.30 and a 200 day moving average price of $182.15.

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

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were 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 $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,245 shares of company stock worth $3,679,407. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on QCOM. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Cantor Fitzgerald lowered their price objective on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $207.92.

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.