Smith Thornton Advisors LLC Acquires 676 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Smith Thornton Advisors LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 30.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,906 shares of the wireless technology company’s stock after acquiring an additional 676 shares during the period. Smith Thornton Advisors LLC’s holdings in QUALCOMM were worth $494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pine Haven Investment Counsel Inc increased its position in shares of QUALCOMM by 2.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares in the last quarter. Buffington Mohr McNeal raised its stake in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after buying an additional 53 shares during the last quarter. TRUE Private Wealth Advisors boosted its holdings in QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after acquiring an additional 57 shares in the last quarter. Macroview Investment Management LLC increased its holdings in shares of QUALCOMM by 10.5% during the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after acquiring an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its position in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s 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 owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock worth $2,709,186 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Barclays lifted their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $212.16.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $172.91 on Friday. The business’s fifty day simple moving average is $168.55 and its 200-day simple moving average is $182.14. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $192.62 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $119.15 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Equities analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 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.