Patriot Financial Group Insurance Agency LLC Buys 1,643 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Patriot Financial Group Insurance Agency LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,342 shares of the wireless technology company’s stock after buying an additional 1,643 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in QUALCOMM were worth $4,139,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in QCOM. HWG Holdings LP purchased a new stake in QUALCOMM in the 2nd quarter worth about $30,000. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter worth about $27,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC lifted its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. boosted its holdings in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on QCOM. Robert W. Baird raised their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.92.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade 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 worth $3,679,407 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.3 %

QCOM stock traded up $2.25 during trading on Monday, reaching $172.52. The company had a trading volume of 1,465,088 shares, compared to its average volume of 8,960,767. The business has a 50 day moving average of $169.16 and a 200 day moving average of $182.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company has a market cap of $192.19 billion, a P/E ratio of 22.17, a PEG ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $106.18 and a 52 week 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. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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