Highline Wealth Partners LLC Purchases New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Highline Wealth Partners LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, HoldingsChannel reports. The fund acquired 10,158 shares of the wireless technology company’s stock, valued at approximately $1,727,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC grew its position in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after buying an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Czech National Bank boosted its stake in shares of QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after acquiring an additional 13,888 shares in the last quarter. Legal & General Group Plc grew its position 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. Finally, Heritage Wealth Management Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $1,539,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on QCOM shares. Rosenblatt Securities increased their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Susquehanna dropped their price target 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. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.92.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

QUALCOMM stock opened at $170.79 on Wednesday. The stock has a market cap of $190.26 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. 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 has a 50 day simple moving average of $169.19 and a 200-day simple moving average of $182.17. QUALCOMM Incorporated has a 1-year low of $106.69 and a 1-year 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 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 during the quarter, compared to analyst estimates of $9.23 billion. On average, analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

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.