Osborne Partners Capital Management LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Osborne Partners Capital Management LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,197 shares of the wireless technology company’s stock after acquiring an additional 136 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in QUALCOMM were worth $204,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wedge Capital Management L L P NC increased its stake in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after acquiring an additional 50,438 shares during the period. Czech National Bank increased its stake in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after acquiring an additional 13,888 shares during the period. Legal & General Group Plc increased its stake in shares of QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the period. Finally, Heritage Wealth Management Inc. acquired a new position in shares of QUALCOMM during the second quarter worth about $1,539,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Rosenblatt Securities upped their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $207.92.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a 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 business’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 completion of the sale, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents 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 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $170.27 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $189.68 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.74 and a beta of 1.28. The business has a fifty day simple moving average of $169.16 and a two-hundred day simple moving average of $182.07. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

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

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

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.