Middleton & Co. Inc. MA Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Middleton & Co. Inc. MA boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,639 shares of the wireless technology company’s stock after purchasing an additional 1,966 shares during the period. QUALCOMM comprises approximately 1.6% of Middleton & Co. Inc. MA’s holdings, making the stock its 22nd largest holding. Middleton & Co. Inc. MA’s holdings in QUALCOMM were worth $14,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Wedge Capital Management L L P NC boosted its position in QUALCOMM by 17.1% during the 3rd 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 acquiring an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after purchasing an additional 50,438 shares in the last quarter. Czech National Bank grew its stake in QUALCOMM by 6.5% in the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after purchasing an additional 13,888 shares during the period. Legal & General Group Plc raised its holdings in QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. purchased a new position in QUALCOMM during the second quarter valued at $1,539,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.3 %

QCOM stock opened at $170.27 on Friday. The company has a market cap of $189.68 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.74 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 business’s 50-day moving average is $169.16 and its two-hundred day moving average is $182.03. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week 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. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 2.00%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 44.04%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was 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 accessible through the SEC website. In related news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on 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 owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the 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 completion of the sale, 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 sold 22,245 shares of company stock worth $3,679,407 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QCOM. Wells Fargo & Company upped their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Susquehanna decreased their target price on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Robert W. Baird boosted their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Rosenblatt Securities lifted their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has an average 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.