Jmac Enterprises LLC Buys New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Jmac Enterprises LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,507 shares of the wireless technology company’s stock, valued at approximately $426,000.

A number of other large investors also recently modified their holdings of the company. Pine Haven Investment Counsel Inc boosted its position in QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after buying an additional 50 shares during the last quarter. Buffington Mohr McNeal lifted its holdings 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 acquiring an additional 53 shares during the period. TRUE Private Wealth Advisors lifted 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 valued at $525,000 after acquiring an additional 57 shares during the period. Macroview Investment Management LLC lifted its holdings in QUALCOMM by 10.5% in 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 during the period. Finally, McClarren Financial Advisors Inc. lifted its holdings in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 2.1 %

QUALCOMM stock traded up $3.69 during midday trading on Thursday, reaching $176.68. 2,339,456 shares of the stock traded hands, compared to its average volume of 8,933,935. The company has a 50-day simple moving average of $168.55 and a two-hundred day simple moving average of $182.14. QUALCOMM Incorporated has a 12-month low of $119.15 and a 12-month high of $230.63. The firm has a market cap of $196.82 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.66 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 (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.92%. 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 brokerages have issued reports on QCOM. Rosenblatt Securities boosted their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft boosted their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Robert W. Baird upped 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. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.88.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated 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 directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 in the last three months. 0.08% of the stock is owned by company insiders.

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.