NorthCrest Asset Manangement LLC Buys 26,271 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

NorthCrest Asset Manangement LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 70.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,546 shares of the wireless technology company’s stock after acquiring an additional 26,271 shares during the period. NorthCrest Asset Manangement LLC’s holdings in QUALCOMM were worth $10,806,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QCOM. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter worth about $27,000. HWG Holdings LP acquired a new stake in QUALCOMM during the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM during the second quarter valued at approximately $32,000. Aspect Partners LLC grew its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Finally, Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.3 %

Shares of QUALCOMM stock traded up $2.17 during trading hours on Friday, hitting $170.27. The company’s stock had a trading volume of 5,496,607 shares, compared to its average volume of 8,996,961. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. 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 capitalization of $189.68 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The stock has a 50 day moving average of $169.16 and a 200 day moving average of $182.03.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

Insider Activity

In other news, 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 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 $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 over the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. Susquehanna decreased their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Cantor Fitzgerald cut their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Finally, DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $207.92.

About QUALCOMM

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.