Stanley Laman Group Ltd. Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stanley Laman Group Ltd. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,740 shares of the wireless technology company’s stock after buying an additional 2,681 shares during the quarter. Stanley Laman Group Ltd.’s holdings in QUALCOMM were worth $5,057,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at $27,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC increased its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Finally, Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $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 available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the 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 transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on QCOM shares. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays boosted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Finally, Cantor Fitzgerald dropped their price objective on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Stock Up 2.5 %

QCOM opened at $173.18 on Wednesday. The firm has a 50 day moving average price of $169.31 and a 200 day moving average price of $182.26. The company has a market cap of $192.92 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year 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.

QUALCOMM (NASDAQ:QCOM) last posted 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 during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Sell-side analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 44.04%.

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.