QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by First City Capital Management Inc.

First City Capital Management Inc. increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,507 shares of the wireless technology company’s stock after acquiring an additional 68 shares during the period. First City Capital Management Inc.’s holdings in QUALCOMM were worth $936,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Princeton Capital Management LLC raised its stake in shares of QUALCOMM by 3.1% in the third quarter. Princeton Capital Management LLC now owns 41,960 shares of the wireless technology company’s stock valued at $7,135,000 after acquiring an additional 1,259 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of QUALCOMM by 12.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 15,192 shares of the wireless technology company’s stock valued at $2,583,000 after acquiring an additional 1,667 shares in the last quarter. Wrapmanager Inc. raised its stake in shares of QUALCOMM by 18.9% in the third quarter. Wrapmanager Inc. now owns 3,261 shares of the wireless technology company’s stock valued at $555,000 after acquiring an additional 519 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of QUALCOMM by 83.6% in the third quarter. Prospera Financial Services Inc now owns 34,235 shares of the wireless technology company’s stock valued at $5,826,000 after acquiring an additional 15,593 shares in the last quarter. Finally, Smead Capital Management Inc. increased its holdings in QUALCOMM by 3.5% in the third quarter. Smead Capital Management Inc. now owns 687,507 shares of the wireless technology company’s stock valued at $116,911,000 after buying an additional 23,188 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on QCOM shares. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased 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. dropped their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Trading Up 2.5 %

Shares of QCOM opened at $164.50 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a 50 day simple moving average of $168.42 and a 200-day simple moving average of $182.23. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The stock has a market cap of $182.76 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

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 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 2.07%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred 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 completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.