Livelsberger Financial Advisory Purchases New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Livelsberger Financial Advisory purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 322 shares of the wireless technology company’s stock, valued at approximately $55,000. QUALCOMM makes up about 1.2% of Livelsberger Financial Advisory’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. Wedge Capital Management L L P NC raised its stake in shares of QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after acquiring an additional 50,438 shares during the period. Czech National Bank raised its stake in shares of QUALCOMM by 6.5% in the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after acquiring an additional 13,888 shares during the period. Legal & General Group Plc raised its stake in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares during the period. Finally, Heritage Wealth Management Inc. purchased a new stake in shares of QUALCOMM in the second quarter valued at $1,539,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QCOM shares. Cantor Fitzgerald reduced their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Rosenblatt Securities upped their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Finally, Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.92.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $3.24 during midday trading on Monday, hitting $167.68. The company had a trading volume of 3,663,714 shares, compared to its average volume of 9,020,795. The stock has a market cap of $187.13 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.79 and a beta of 1.28. 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 company has a fifty day simple moving average of $169.11 and a 200 day simple moving average of $182.25. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $9.23 billion. As a group, analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared 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 2.03%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 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.