Omega Financial Group LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Omega Financial Group LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,784 shares of the wireless technology company’s stock, valued at approximately $210,000.

A number of other large investors have also recently made changes to their positions in the business. Meridian Investment Counsel Inc. increased its stake in QUALCOMM by 0.4% during the second quarter. Meridian Investment Counsel Inc. now owns 25,101 shares of the wireless technology company’s stock worth $2,289,000 after acquiring an additional 100 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its stake in QUALCOMM by 0.9% during the second quarter. Sound View Wealth Advisors Group LLC now owns 11,264 shares of the wireless technology company’s stock worth $1,027,000 after acquiring an additional 100 shares during the last quarter. Almanack Investment Partners LLC. increased its stake in QUALCOMM by 2.7% during the second quarter. Almanack Investment Partners LLC. now owns 3,892 shares of the wireless technology company’s stock worth $355,000 after acquiring an additional 103 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in QUALCOMM by 3.4% during the second quarter. Flagship Harbor Advisors LLC now owns 3,380 shares of the wireless technology company’s stock worth $308,000 after acquiring an additional 110 shares during the last quarter. Finally, Beacon Financial Advisory LLC boosted its position in shares of QUALCOMM by 1.8% in the second quarter. Beacon Financial Advisory LLC now owns 6,395 shares of the wireless technology company’s stock worth $583,000 after buying an additional 116 shares during the period. Institutional investors own 74.79% of the company’s stock.

QUALCOMM stock opened at $129.03 on Friday. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97. The business’s 50-day simple moving average is $117.35 and its 200-day simple moving average is $95.14. The firm has a market capitalization of $145.58 billion, a PE ratio of 54.44, a PEG ratio of 1.79 and a beta of 1.36. QUALCOMM Incorporated has a 52 week low of $58.00 and a 52 week high of $132.42.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.15. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company posted $0.80 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts forecast that QUALCOMM Incorporated will post 3.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio (DPR) is presently 91.55%.

QCOM has been the subject of several analyst reports. Edward Jones raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. increased their target price on QUALCOMM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, September 16th. Sanford C. Bernstein set a $135.00 price target on QUALCOMM and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Citigroup increased their price target on QUALCOMM from $108.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Finally, Mizuho restated a “buy” rating and issued a $105.00 target price (up from $91.00) on shares of QUALCOMM in a research report on Wednesday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $121.58.

In related news, President Cristiano R. Amon sold 20,530 shares of QUALCOMM stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $130.60, for a total transaction of $2,681,218.00. Following the sale, the president now directly owns 50,753 shares of the company’s stock, valued at $6,628,341.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 8,491 shares of QUALCOMM stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.78, for a total value of $991,578.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,720 shares of company stock worth $5,348,451. 0.12% of the stock is owned by company insiders.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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