Qualcomm Incorporated $QCOM Shares Acquired by Compass Capital Management Inc.

Compass Capital Management Inc. grew its holdings in Qualcomm Incorporated (NASDAQ:QCOM) by 12.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 300,803 shares of the wireless technology company’s stock after buying an additional 32,482 shares during the quarter. Qualcomm makes up about 3.5% of Compass Capital Management Inc.’s investment portfolio, making the stock its 10th largest holding. Compass Capital Management Inc.’s holdings in Qualcomm were worth $55,360,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Qualcomm during the second quarter valued at approximately $17,583,115,000. State Street Corp lifted its stake in Qualcomm by 1.3% in the second quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company’s stock worth $9,750,123,000 after acquiring an additional 671,537 shares during the period. Van ECK Associates Corp boosted its holdings in Qualcomm by 22.7% in the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock valued at $3,178,872,000 after acquiring an additional 3,179,720 shares in the last quarter. Amundi boosted its holdings in Qualcomm by 94.1% in the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock valued at $1,884,071,000 after acquiring an additional 4,942,908 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Qualcomm during the 2nd quarter valued at $1,523,930,000. 74.35% of the stock is currently owned by institutional investors.

Recent Qualcomm Headlines

Here are a few of the latest headlines about QCOM:

• Positive Sentiment: Qualcomm’s new 5G partnership with SpaceX may open opportunities in network equipment and support innovation, though the commercial impact is not yet clear. Article: Qualcomm CEO on SpaceX deal
• Positive Sentiment: Zacks Research raised its rating on QCOM from “strong sell” to “hold,” indicating a less negative view, though not a bullish recommendation. Article: Zacks Research rating
• Negative Sentiment: Handset weakness and uncertainty around data-center growth have been cited as reasons for pressure on Qualcomm, despite its recent quarterly earnings beat. The SpaceX partnership also faces questions about the difficulty of competing with established mobile carriers. Article: Semiconductor ETFs to Buy as Qualcomm Plunges Despite Q4 Earnings Beat

Analysts Set New Price Targets

Several research analysts have commented on the stock. The Goldman Sachs Group restated a “neutral” rating on shares of Qualcomm in a report on Thursday, November 5th. TD Cowen cut their target price on shares of Qualcomm from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Robert W. Baird set a $320.00 target price on shares of Qualcomm in a research note on Thursday, November 5th. Rosenblatt Securities reduced their price target on shares of Qualcomm from $235.00 to $205.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Finally, UBS Group decreased their price target on shares of Qualcomm from $185.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, November 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $197.13.

Insider Transactions at Qualcomm

In other news, CEO Cristiano Amon sold 10,000 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $200.00, for a total value of $2,000,000.00. Following the sale, the chief executive officer directly owned 177,568 shares of the company’s stock, valued at approximately $35,513,600. This represents a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather Ace sold 3,200 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $165.42, for a total value of $529,344.00. Following the transaction, the executive vice president owned 39,379 shares of the company’s stock, valued at $6,514,074.18. The trade was a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 32,520 shares of company stock valued at $6,101,411. 0.05% of the stock is currently owned by corporate insiders.

Qualcomm Price Performance

QCOM stock opened at $172.47 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.86. The firm has a 50 day moving average price of $178.73 and a 200-day moving average price of $169.99. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The firm has a market capitalization of $184.54 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.07 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The company had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.12 billion. During the same quarter in the prior year, the business posted $3.00 EPS. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities research analysts forecast that Qualcomm Incorporated will post 6.75 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm’s payout ratio is 28.98%.

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.