Creative Planning Acquires 2,086 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Creative Planning lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,811 shares of the wireless technology company’s stock after purchasing an additional 2,086 shares during the period. Creative Planning’s holdings in QUALCOMM were worth $68,147,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Wesbanco Bank Inc. increased its stake in shares of QUALCOMM by 0.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock valued at $2,311,000 after acquiring an additional 88 shares in the last quarter. CX Institutional grew its holdings in QUALCOMM by 334.2% in the third quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock worth $4,244,000 after purchasing an additional 19,212 shares during the period. Harrington Investments INC increased its stake in QUALCOMM by 0.6% in the third quarter. Harrington Investments INC now owns 22,638 shares of the wireless technology company’s stock valued at $3,850,000 after purchasing an additional 130 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of 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 purchasing an additional 51,879 shares during the period. Finally, Fiduciary Alliance LLC boosted its position in shares of QUALCOMM by 34.9% during the 3rd quarter. Fiduciary Alliance LLC now owns 4,216 shares of the wireless technology company’s stock worth $717,000 after purchasing an additional 1,091 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s 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 transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, 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 transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction 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 transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock valued at $3,679,407 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Robert W. Baird increased their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Barclays boosted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Cantor Fitzgerald dropped their price objective on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Finally, Rosenblatt Securities boosted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $208.75.

QUALCOMM Price Performance

QUALCOMM stock opened at $170.92 on Friday. The business’s 50 day simple moving average is $169.11 and its 200 day simple moving average is $182.19. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a market cap of $190.75 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.79 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. QUALCOMM’s payout ratio is 45.70%.

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.