Robinson Value Management Ltd. Buys 804 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Robinson Value Management Ltd. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% during the third quarter, HoldingsChannel reports. The fund owned 25,917 shares of the wireless technology company’s stock after purchasing an additional 804 shares during the quarter. QUALCOMM comprises approximately 2.9% of Robinson Value Management Ltd.’s holdings, making the stock its 10th biggest position. Robinson Value Management Ltd.’s holdings in QUALCOMM were worth $4,407,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trilogy Capital Inc. increased its position in QUALCOMM by 9.7% during the third quarter. Trilogy Capital Inc. now owns 19,179 shares of the wireless technology company’s stock worth $3,261,000 after buying an additional 1,698 shares during the last quarter. Gilliland Jeter Wealth Management LLC increased its position in QUALCOMM by 5.3% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 1,380 shares of the wireless technology company’s stock worth $235,000 after buying an additional 70 shares during the last quarter. Narus Financial Partners LLC increased its position in QUALCOMM by 9.9% during the third quarter. Narus Financial Partners LLC now owns 4,051 shares of the wireless technology company’s stock worth $689,000 after buying an additional 365 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in QUALCOMM by 24.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 483,029 shares of the wireless technology company’s stock worth $82,139,000 after buying an additional 94,169 shares during the last quarter. Finally, Vest Financial LLC boosted its holdings in QUALCOMM by 56.1% during the third quarter. Vest Financial LLC now owns 171,406 shares of the wireless technology company’s stock valued at $29,148,000 after acquiring an additional 61,632 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s 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 in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One equities 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.92.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $4.39 during mid-day trading on Monday, hitting $166.53. 2,395,347 shares of the stock were exchanged, compared to its average volume of 9,014,547. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market cap of $185.85 billion, a P/E ratio of 22.38, a PEG ratio of 1.79 and a beta of 1.28. The stock’s fifty day simple moving average is $169.11 and its two-hundred day simple moving average is $182.25. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.