Independent Solutions Wealth Management LLC Purchases 1,340 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Independent Solutions Wealth Management LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,327 shares of the wireless technology company’s stock after buying an additional 1,340 shares during the period. Independent Solutions Wealth Management LLC’s holdings in QUALCOMM were worth $2,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of QUALCOMM by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,415,090 shares of the wireless technology company’s stock worth $240,636,000 after acquiring an additional 69,707 shares during the last quarter. Syntax Research Inc. boosted its holdings in shares of QUALCOMM by 8.9% in the 3rd quarter. Syntax Research Inc. now owns 4,682 shares of the wireless technology company’s stock worth $796,000 after purchasing an additional 382 shares in the last quarter. DGS Capital Management LLC increased its position in shares of QUALCOMM by 65.1% during the 3rd quarter. DGS Capital Management LLC now owns 3,486 shares of the wireless technology company’s stock valued at $593,000 after purchasing an additional 1,374 shares during the last quarter. Copley Financial Group Inc. purchased a new position in shares of QUALCOMM during the 3rd quarter valued at about $141,000. Finally, Oddo BHF Asset Management Sas bought a new stake in QUALCOMM in the 3rd quarter worth approximately $344,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QCOM. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Wells Fargo & Company increased their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Trading Down 1.6 %

Shares of QUALCOMM stock traded down $2.39 during trading on Thursday, hitting $150.66. The stock had a trading volume of 4,325,732 shares, compared to its average volume of 8,942,074. The stock has a market cap of $167.38 billion, a PE ratio of 16.76, a PEG ratio of 2.65 and a beta of 1.25. The firm’s fifty day simple moving average is $164.28 and its 200-day simple moving average is $176.73. QUALCOMM Incorporated has a 12 month low of $134.94 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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 dividend on an annualized basis and a yield of 2.26%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Activity

In other news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,127 shares of company stock worth $6,710,055. Corporate insiders own 0.08% of the company’s stock.

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.