Money Concepts Capital Corp Purchases 3,040 Shares of Qualcomm Incorporated $QCOM

Money Concepts Capital Corp boosted its position in Qualcomm Incorporated (NASDAQ:QCOM) by 109.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,828 shares of the wireless technology company’s stock after acquiring an additional 3,040 shares during the quarter. Money Concepts Capital Corp’s holdings in Qualcomm were worth $1,073,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Allworth Financial LP raised its stake in Qualcomm by 44.2% in the third quarter. Allworth Financial LP now owns 164,374 shares of the wireless technology company’s stock valued at $30,375,000 after buying an additional 50,382 shares in the last quarter. SVB Wealth LLC lifted its holdings in Qualcomm by 63.9% during the 3rd quarter. SVB Wealth LLC now owns 13,396 shares of the wireless technology company’s stock worth $2,465,000 after buying an additional 5,221 shares during the last quarter. Legacy Trust lifted its holdings in Qualcomm by 1.8% during the 3rd quarter. Legacy Trust now owns 41,700 shares of the wireless technology company’s stock worth $7,674,000 after buying an additional 724 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Qualcomm by 9.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,084,366 shares of the wireless technology company’s stock worth $199,580,000 after acquiring an additional 93,879 shares in the last quarter. Finally, Ariadne Wealth Management LP boosted its position in shares of Qualcomm by 6.1% during the 3rd quarter. Ariadne Wealth Management LP now owns 2,712 shares of the wireless technology company’s stock worth $499,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, CAO Patricia Y. Grech sold 208 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $170.00, for a total transaction of $35,360.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann C. Chaplin sold 1,501 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $161.54, for a total transaction of $242,471.54. Following the transaction, the executive vice president owned 27,271 shares in the company, valued at approximately $4,405,357.34. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,520 shares of company stock valued at $6,101,411 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Qualcomm News Roundup

Here’s some of the latest news about QCOM:

• Positive Sentiment: Qualcomm’s new 5G partnership with SpaceX may open opportunities in network equipment and support innovation, though the commercial impact is not yet clear. Article: Qualcomm CEO on SpaceX deal
• Positive Sentiment: Zacks Research raised its rating on QCOM from “strong sell” to “hold,” indicating a less negative view, though not a bullish recommendation. Article: Zacks Research rating
• Neutral Sentiment: Qualcomm completed a $4 billion senior-notes offering. The financing provides capital but also represents debt that the company will need to service. Article: Qualcomm Completes $4 Billion Senior Notes Offering

Qualcomm Stock Performance

NASDAQ QCOM traded down $4.67 during trading hours on Friday, hitting $172.47. The company had a trading volume of 10,418,764 shares, compared to its average volume of 13,859,666. The business has a 50 day moving average of $178.73 and a 200-day moving average of $169.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.86. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92. The company has a market cap of $184.54 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 2.07 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. The business had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.00 EPS. As a group, equities research analysts expect that Qualcomm Incorporated will post 6.75 EPS for the current year.

Qualcomm Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.1%. Qualcomm’s payout ratio is 28.98%.

Analyst Ratings Changes

A number of research firms have recently commented on QCOM. Weiss Ratings upgraded Qualcomm from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, November 9th. Sanford C. Bernstein cut their target price on Qualcomm from $165.00 to $155.00 and set a “market perform” rating on the stock in a research report on Monday, November 2nd. Wells Fargo & Company decreased their target price on Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Oppenheimer set a $200.00 price target on Qualcomm in a report on Monday, July 27th. Finally, Cantor Fitzgerald dropped their price target on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $197.13.

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.