Townsend Asset Management Corp NC ADV Has $11.52 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Townsend Asset Management Corp NC ADV increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,742 shares of the wireless technology company’s stock after purchasing an additional 2,596 shares during the quarter. QUALCOMM comprises about 4.3% of Townsend Asset Management Corp NC ADV’s portfolio, making the stock its 3rd biggest position. Townsend Asset Management Corp NC ADV’s holdings in QUALCOMM were worth $11,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fermata Advisors LLC acquired a new position in QUALCOMM in the first quarter valued at approximately $311,000. Community Bank of Raymore raised its holdings in QUALCOMM by 8.1% in the first quarter. Community Bank of Raymore now owns 21,645 shares of the wireless technology company’s stock worth $3,664,000 after purchasing an additional 1,620 shares during the period. New England Professional Planning Group Inc. bought a new position in shares of QUALCOMM during the first quarter worth $220,000. DLK Investment Management LLC increased its position in shares of QUALCOMM by 7.4% in the 1st quarter. DLK Investment Management LLC now owns 24,529 shares of the wireless technology company’s stock valued at $4,153,000 after buying an additional 1,691 shares in the last quarter. Finally, Hoxton Planning & Management LLC raised its stake in QUALCOMM by 5.3% during the 1st quarter. Hoxton Planning & Management LLC now owns 3,678 shares of the wireless technology company’s stock worth $623,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Cantor Fitzgerald decreased their target price on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price target 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, Robert W. Baird boosted their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $207.92.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s 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 transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 over the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $169.01 on Tuesday. 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 stock has a market capitalization of $188.62 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.79 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a 50-day simple moving average of $169.24 and a two-hundred day simple moving average of $182.25.

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, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 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.