Bridges Investment Management Inc. Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Bridges Investment Management Inc. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% in the 3rd quarter, Holdings Channel reports. The fund owned 15,374 shares of the wireless technology company’s stock after selling 187 shares during the quarter. Bridges Investment Management Inc.’s holdings in QUALCOMM were worth $2,614,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in QCOM. Leelyn Smith LLC purchased a new position in shares of QUALCOMM in the first quarter valued at $208,000. WealthPLAN Partners LLC bought a new position in shares of QUALCOMM in the first quarter valued at approximately $228,000. Reynders McVeigh Capital Management LLC purchased a new position in QUALCOMM during the first quarter valued at approximately $207,000. Atomi Financial Group Inc. increased its holdings in QUALCOMM by 28.5% during the 1st quarter. Atomi Financial Group Inc. now owns 3,612 shares of the wireless technology company’s stock worth $612,000 after acquiring an additional 801 shares during the period. Finally, Chilton Capital Management LLC lifted its stake in QUALCOMM by 32.3% in the 1st quarter. Chilton Capital Management LLC now owns 4,978 shares of the wireless technology company’s stock worth $843,000 after purchasing an additional 1,215 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price target 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. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Susquehanna dropped their price target on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday. Finally, Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $212.16.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $170.91 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market cap of $190.39 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $119.85 and a 12 month high of $230.63. The company has a 50-day moving average price of $168.53 and a 200-day moving average price of $182.15.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 8.62 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Company Profile

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.