LCM Capital Management Inc Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

LCM Capital Management Inc increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,210 shares of the wireless technology company’s stock after purchasing an additional 98 shares during the period. QUALCOMM accounts for 0.7% of LCM Capital Management Inc’s investment portfolio, making the stock its 26th largest holding. LCM Capital Management Inc’s holdings in QUALCOMM were worth $1,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the third quarter valued at about $26,000. HWG Holdings LP acquired a new position in QUALCOMM during the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc purchased a new position in QUALCOMM in the third quarter worth $36,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’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 completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were 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 approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,245 shares of company stock valued at $2,395,407. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 2.9 %

Shares of QCOM opened at $162.77 on Friday. 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 company has a 50-day simple moving average of $168.94 and a 200-day simple moving average of $181.93. QUALCOMM Incorporated has a 52 week low of $106.69 and a 52 week high of $230.63. The firm has a market capitalization of $181.33 billion, a P/E ratio of 21.08, a P/E/G ratio of 1.68 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities research analysts expect 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 paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is 44.04%.

Analyst Ratings Changes

Several brokerages have weighed in on QCOM. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given 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 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.