Gladstone Institutional Advisory LLC Acquires 10,427 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Gladstone Institutional Advisory LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 76.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,995 shares of the wireless technology company’s stock after acquiring an additional 10,427 shares during the period. Gladstone Institutional Advisory LLC’s holdings in QUALCOMM were worth $4,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Legal & General Group Plc grew its stake in shares of QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares during the period. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the first quarter worth approximately $1,171,516,000. Dimensional Fund Advisors LP increased its stake in shares of QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after purchasing an additional 173,673 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after buying an additional 2,919,490 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on QCOM shares. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Cantor Fitzgerald decreased their price objective on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Finally, Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $207.92.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on 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 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 related news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. 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 available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on 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 sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,245 shares of company stock worth $2,395,407. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 1.9 %

QCOM traded up $3.08 on Friday, hitting $165.85. The company had a trading volume of 2,108,584 shares, compared to its average volume of 8,938,755. The stock has a market capitalization of $184.76 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 1.68 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a fifty day moving average price of $168.94 and a 200-day moving average price of $181.93. QUALCOMM Incorporated has a 12-month low of $114.45 and a 12-month high of $230.63.

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

QUALCOMM Dividend Announcement

The firm also recently announced 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 yield of 2.05%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 44.04%.

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.