Abacus Wealth Partners LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Abacus Wealth Partners LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 32.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,459 shares of the wireless technology company’s stock after acquiring an additional 356 shares during the quarter. Abacus Wealth Partners LLC’s holdings in QUALCOMM were worth $248,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new stake in QUALCOMM in the second quarter worth about $30,000. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter worth about $27,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC raised its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Stock Up 0.4 %

QCOM opened at $168.92 on Friday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $168.23 and a 200 day moving average price of $181.96. The company has a market cap of $188.18 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results 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 net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock worth $3,679,407 in the last 90 days. 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.