Baker Avenue Asset Management LP Has $12.28 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Baker Avenue Asset Management LP raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 72,194 shares of the wireless technology company’s stock after purchasing an additional 8,988 shares during the quarter. Baker Avenue Asset Management LP’s holdings in QUALCOMM were worth $12,277,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alan B Lancz & Associates Inc. lifted its stake in QUALCOMM by 3.6% in the third quarter. Alan B Lancz & Associates Inc. now owns 15,672 shares of the wireless technology company’s stock valued at $2,665,000 after acquiring an additional 550 shares during the last quarter. Sigma Planning Corp boosted its holdings in shares of QUALCOMM by 6.1% in the 3rd quarter. Sigma Planning Corp now owns 22,473 shares of the wireless technology company’s stock worth $3,822,000 after buying an additional 1,294 shares during the last quarter. Summit Wealth & Retirement Planning Inc. lifted its holdings in shares of QUALCOMM by 3.7% in the third quarter. Summit Wealth & Retirement Planning Inc. now owns 2,380 shares of the wireless technology company’s stock worth $405,000 after buying an additional 85 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of QUALCOMM by 2.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 9,757 shares of the wireless technology company’s stock worth $1,659,000 after acquiring an additional 219 shares in the last quarter. Finally, GSG Advisors LLC boosted its holdings in QUALCOMM by 5.9% in the third quarter. GSG Advisors LLC now owns 1,303 shares of the wireless technology company’s stock valued at $216,000 after acquiring an additional 73 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 1.2 %

NASDAQ:QCOM traded down $2.00 during trading hours on Friday, hitting $170.91. 10,736,646 shares of the company’s stock traded hands, compared to its average volume of 9,039,770. The stock’s fifty day moving average price is $168.53 and its two-hundred day moving average price is $182.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a twelve month low of $119.85 and a twelve month high of $230.63. The firm has a market cap of $190.39 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.76 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating 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 firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, research analysts expect that QUALCOMM Incorporated will post 8.62 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced 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 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’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 completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now 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 disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 over the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on QCOM shares. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays upped their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday. Robert W. Baird raised their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Citigroup dropped their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $212.16.

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.