FCG Investment Co Invests $1.80 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

FCG Investment Co purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,579 shares of the wireless technology company’s stock, valued at approximately $1,799,000. QUALCOMM comprises 1.2% of FCG Investment Co’s investment portfolio, making the stock its 25th largest position.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pointe Capital Management LLC raised its position in QUALCOMM by 2.9% during the 3rd quarter. Pointe Capital Management LLC now owns 5,681 shares of the wireless technology company’s stock valued at $966,000 after purchasing an additional 159 shares in the last quarter. Park Edge Advisors LLC bought a new stake in shares of QUALCOMM in the third quarter valued at about $321,000. J.W. Cole Advisors Inc. lifted its stake in QUALCOMM by 14.3% in the third quarter. J.W. Cole Advisors Inc. now owns 14,262 shares of the wireless technology company’s stock worth $2,425,000 after acquiring an additional 1,781 shares during the period. Ellis Investment Partners LLC grew its holdings in QUALCOMM by 7.1% during the 3rd quarter. Ellis Investment Partners LLC now owns 15,261 shares of the wireless technology company’s stock worth $2,595,000 after acquiring an additional 1,012 shares in the last quarter. Finally, SRN Advisors LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $1,340,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.7 %

QCOM stock opened at $171.50 on Monday. 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 firm’s fifty day simple moving average is $169.16 and its 200-day simple moving average is $182.15. QUALCOMM Incorporated has a 12 month low of $106.18 and a 12 month high of $230.63. The company has a market capitalization of $191.39 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM’s payout ratio is 45.70%.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s 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 transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction 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 in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. 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 three months. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on QCOM. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Citigroup decreased their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Finally, Rosenblatt Securities raised their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus 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.