Twin City Private Wealth LLC Acquires 224 Shares of QUALCOMM Incorporated $QCOM

Twin City Private Wealth LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,741 shares of the wireless technology company’s stock after acquiring an additional 224 shares during the quarter. Twin City Private Wealth LLC’s holdings in QUALCOMM were worth $755,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of QCOM. Atlantic Edge Private Wealth Management LLC boosted its position in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its position in QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Chung Wu Investment Group LLC bought a new stake in QUALCOMM during the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new stake in QUALCOMM during the 2nd quarter valued at approximately $32,000. Finally, Atticus Wealth Management LLC boosted its position in QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 212 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Patricia Y. Grech sold 273 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $161.42, for a total value of $44,067.66. Following the completion of the transaction, the chief accounting officer directly owned 404 shares in the company, valued at $65,213.68. The trade was a 40.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the completion of the transaction, the chief executive officer owned 149,304 shares of the company’s stock, valued at approximately $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 166,502 shares of company stock valued at $27,472,615 in the last quarter. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings raised QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Citigroup lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Tuesday. Finally, Piper Sandler dropped their price target on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $183.95.

QUALCOMM Stock Performance

Shares of QCOM opened at $180.90 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average price is $165.85 and its 200-day moving average price is $156.54. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $205.95. The stock has a market cap of $195.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.59 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The firm had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the previous year, the firm posted $2.33 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s payout ratio is presently 34.33%.

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.