QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Fortem Financial Group LLC

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Fortem Financial Group LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 310.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 24,099 shares of the wireless technology company’s stock after purchasing an additional 18,234 shares during the period. QUALCOMM makes up 2.1% of Fortem Financial Group LLC’s investment portfolio, making the stock its 8th biggest position. Fortem Financial Group LLC’s holdings in QUALCOMM were worth $2,836,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Hexavest Inc. grew its stake in QUALCOMM by 109.6% during the 2nd quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 171 shares in the last quarter. Cordasco Financial Network grew its stake in QUALCOMM by 96.4% during the 3rd quarter. Cordasco Financial Network now owns 377 shares of the wireless technology company’s stock worth $44,000 after purchasing an additional 185 shares in the last quarter. Hoover Financial Advisors Inc. acquired a new position in QUALCOMM during the 2nd quarter worth $46,000. S.A. Mason LLC boosted its position in shares of QUALCOMM by 70.4% during the 2nd quarter. S.A. Mason LLC now owns 605 shares of the wireless technology company’s stock worth $55,000 after acquiring an additional 250 shares in the last quarter. Finally, Tarbox Family Office Inc. boosted its position in shares of QUALCOMM by 35.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 616 shares of the wireless technology company’s stock worth $56,000 after acquiring an additional 162 shares in the last quarter. 74.79% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Akash J. Palkhiwala sold 3,925 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $102.42, for a total transaction of $401,998.50. Following the completion of the transaction, the chief financial officer now directly owns 17,790 shares of the company’s stock, valued at approximately $1,822,051.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donald J. Rosenberg sold 10,720 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $118.27, for a total value of $1,267,854.40. Following the transaction, the executive vice president now directly owns 9,292 shares of the company’s stock, valued at $1,098,964.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,720 shares of company stock valued at $5,348,451. Company insiders own 0.12% of the company’s stock.

Several research analysts have recently issued reports on QCOM shares. Mizuho reaffirmed a “buy” rating and set a $105.00 price objective (up from $91.00) on shares of QUALCOMM in a research report on Wednesday, July 29th. Exane BNP Paribas raised QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Friday, September 25th. BidaskClub raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Wednesday, September 30th. Citigroup upped their price objective on QUALCOMM from $108.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Finally, Piper Sandler upped their price objective on QUALCOMM from $80.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $121.58.

QCOM traded up $0.45 on Friday, hitting $129.03. 6,626,992 shares of the company traded hands, compared to its average volume of 10,243,579. The company has a 50 day moving average of $117.35 and a 200-day moving average of $95.14. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. The stock has a market capitalization of $145.58 billion, a PE ratio of 54.44, a PEG ratio of 1.79 and a beta of 1.36. QUALCOMM Incorporated has a 12-month low of $58.00 and a 12-month high of $132.42.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.80 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. On average, research analysts anticipate that QUALCOMM Incorporated will post 3.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio (DPR) is 91.55%.

QUALCOMM Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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