Lebenthal Global Advisors LLC Acquires 2,608 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lebenthal Global Advisors LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 109.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,982 shares of the wireless technology company’s stock after buying an additional 2,608 shares during the period. Lebenthal Global Advisors LLC’s holdings in QUALCOMM were worth $847,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. lifted its position in shares of QUALCOMM by 21.7% in the 3rd quarter. Principal Securities Inc. now owns 35,596 shares of the wireless technology company’s stock worth $6,053,000 after purchasing an additional 6,347 shares during the period. LCM Capital Management Inc lifted its position in QUALCOMM by 1.4% during the 3rd quarter. LCM Capital Management Inc now owns 7,210 shares of the wireless technology company’s stock valued at $1,226,000 after acquiring an additional 98 shares during the period. Reston Wealth Management LLC bought a new stake in QUALCOMM during the 3rd quarter valued at about $26,000. United Asset Strategies Inc. increased its stake in QUALCOMM by 2.2% during the 3rd quarter. United Asset Strategies Inc. now owns 14,683 shares of the wireless technology company’s stock valued at $2,497,000 after purchasing an additional 312 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in QUALCOMM by 14.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 15,409 shares of the wireless technology company’s stock valued at $2,620,000 after purchasing an additional 1,914 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.9 %

Shares of NASDAQ:QCOM traded up $3.10 during trading on Friday, reaching $165.87. The stock had a trading volume of 1,336,263 shares, compared to its average volume of 8,932,996. The firm’s 50-day simple moving average is $168.94 and its 200 day simple moving average is $181.93. The company has a market capitalization of $184.78 billion, a P/E ratio of 21.08, a PEG ratio of 1.68 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a one year low of $114.45 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during 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%. As a group, research analysts expect that QUALCOMM Incorporated will post 8.02 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. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 44.04%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. Finally, Susquehanna cut their target price on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $207.92.

Insider Activity

In other news, 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 transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold a total of 14,245 shares of company stock valued at $2,395,407 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

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.