Stockman Wealth Management Inc. Purchases 230 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Stockman Wealth Management Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,720 shares of the wireless technology company’s stock after acquiring an additional 230 shares during the quarter. Stockman Wealth Management Inc.’s holdings in QUALCOMM were worth $1,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. River Global Investors LLP increased its position in shares of QUALCOMM by 13.4% in the third quarter. River Global Investors LLP now owns 15,464 shares of the wireless technology company’s stock valued at $2,629,000 after acquiring an additional 1,829 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of QUALCOMM by 12.6% in the third quarter. Crossmark Global Holdings Inc. now owns 345,244 shares of the wireless technology company’s stock valued at $58,708,000 after acquiring an additional 38,667 shares during the last quarter. Tyler Stone Wealth Management increased its position in QUALCOMM by 108.3% during the third quarter. Tyler Stone Wealth Management now owns 3,296 shares of the wireless technology company’s stock worth $560,000 after buying an additional 1,714 shares during the last quarter. Baker Avenue Asset Management LP increased its position in QUALCOMM by 14.2% during the third quarter. Baker Avenue Asset Management LP now owns 72,194 shares of the wireless technology company’s stock worth $12,277,000 after buying an additional 8,988 shares during the last quarter. Finally, Alan B Lancz & Associates Inc. increased its position in QUALCOMM by 3.6% during the third quarter. Alan B Lancz & Associates Inc. now owns 15,672 shares of the wireless technology company’s stock worth $2,665,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Wednesday, July 17th. Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $212.16.

QUALCOMM Trading Down 1.2 %

NASDAQ QCOM traded down $2.00 on Friday, reaching $170.91. The company had a trading volume of 10,736,646 shares, compared to its average volume of 9,039,770. The firm has a market cap of $190.39 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.76 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $119.85 and a fifty-two week high of $230.63. The business has a 50 day moving average of $168.53 and a two-hundred day moving average of $182.29. 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 (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. Analysts forecast that QUALCOMM Incorporated will post 8.62 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. QUALCOMM’s payout ratio is currently 37.82%.

QUALCOMM Company 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.