Partners Wealth Management LLC Makes New Investment in Qualcomm Incorporated $QCOM

Partners Wealth Management LLC bought a new position in shares of Qualcomm Incorporated (NASDAQ:QCOM) in the 3rd quarter, Holdings Channel.com reports. The fund bought 5,250 shares of the wireless technology company’s stock, valued at approximately $966,000.

Several other large investors also recently bought and sold shares of the stock. Crew Capital Management Ltd lifted its position in shares of Qualcomm by 2.1% during the 3rd quarter. Crew Capital Management Ltd now owns 8,781 shares of the wireless technology company’s stock worth $1,616,000 after purchasing an additional 182 shares during the last quarter. Choreo LLC grew its stake in shares of Qualcomm by 1.7% during the third quarter. Choreo LLC now owns 31,018 shares of the wireless technology company’s stock worth $5,708,000 after purchasing an additional 506 shares in the last quarter. Interchange Capital Partners LLC grew its stake in shares of Qualcomm by 12.0% during the third quarter. Interchange Capital Partners LLC now owns 4,543 shares of the wireless technology company’s stock worth $836,000 after purchasing an additional 485 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Qualcomm during the third quarter worth $60,000. Finally, Childress Capital Advisors LLC increased its holdings in Qualcomm by 14.0% in the third quarter. Childress Capital Advisors LLC now owns 4,370 shares of the wireless technology company’s stock valued at $804,000 after buying an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other Qualcomm news, EVP Ann C. Chaplin sold 1,827 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the sale, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. The trade was a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $175.06, for a total value of $437,650.00. Following the completion of the sale, the executive vice president directly owned 20,799 shares of the company’s stock, valued at $3,641,072.94. The trade was a 10.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 33,458 shares of company stock worth $6,198,144. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on QCOM shares. Freedom Capital upgraded Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Cantor Fitzgerald lowered their price objective on Qualcomm from $200.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Citigroup dropped their price objective on Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Dbs Bank raised Qualcomm to a “moderate buy” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley decreased their target price on Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $205.83.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $164.79 on Friday. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The firm has a market capitalization of $175.97 billion, a P/E ratio of 19.07, a P/E/G ratio of 4.17 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The company’s fifty day moving average price is $177.83 and its 200 day moving average price is $169.44.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.77 EPS. As a group, sell-side analysts predict that Qualcomm Incorporated will post 7.71 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm’s payout ratio is presently 42.59%.

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.