Independent Solutions Wealth Management LLC Has $2.27 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Independent Solutions Wealth Management LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,327 shares of the wireless technology company’s stock after acquiring an additional 1,340 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in QUALCOMM were worth $2,266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. Wedge Capital Management L L P NC boosted its position in QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares during the period. Icon Wealth Advisors LLC increased its holdings in QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after purchasing an additional 18,315 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares during the last quarter. Aljian Capital Management LLC acquired a new position in QUALCOMM during the 3rd quarter worth about $1,820,000. Finally, Captrust Financial Advisors increased its stake in shares of QUALCOMM by 4.6% in the third quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock valued at $112,969,000 after buying an additional 29,287 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,127 shares of company stock valued at $6,710,055. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup cut their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Evercore ISI lifted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

QUALCOMM Stock Down 1.6 %

QCOM traded down $2.39 during mid-day trading on Thursday, reaching $150.66. 4,325,732 shares of the stock were exchanged, compared to its average volume of 8,942,074. QUALCOMM Incorporated has a 1 year low of $134.94 and a 1 year high of $230.63. The stock has a market capitalization of $167.38 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company has a 50 day moving average price of $164.28 and a two-hundred day moving average price of $176.73. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.26%. QUALCOMM’s payout ratio is currently 37.82%.

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.