Qualcomm Incorporated $QCOM Shares Newly Bought by Point Windward Advisors Inc.

Point Windward Advisors Inc. bought a new position in Qualcomm Incorporated (NASDAQ:QCOM) during the 3rd quarter, Holdings Channel.com reports. The fund bought 6,480 shares of the wireless technology company’s stock, valued at approximately $1,193,000.

A number of other large investors have also made changes to their positions in the company. Baxter Bros Inc. purchased a new position in shares of Qualcomm during the 2nd quarter valued at about $17,844,000. Y Intercept Hong Kong Ltd purchased a new stake in Qualcomm during the 2nd quarter valued at approximately $28,068,000. Cullinan Associates Inc. raised its position in shares of Qualcomm by 11.3% during the third quarter. Cullinan Associates Inc. now owns 55,373 shares of the wireless technology company’s stock valued at $10,191,000 after buying an additional 5,629 shares during the last quarter. Tensor Edge Capital LLC purchased a new position in shares of Qualcomm in the second quarter worth $147,315,000. Finally, Sawyer & Company Inc purchased a new position in Qualcomm during the third quarter valued at $2,403,000. 74.35% of the stock is currently owned by institutional investors.

Qualcomm News Summary

Investors following QCOM have been watching these news items:

• Neutral Sentiment: The SpaceX opportunity faces execution and competitive hurdles: one analysis warns that building a challenger to major mobile carriers could be difficult, and a possible Boost Mobile acquisition remains speculative. SpaceX deal and carrier challenges
• Negative Sentiment: Despite a quarterly earnings beat, reports cited handset weakness and uncertainty around data-center growth in explaining a sharp recent selloff. Investors are also weighing customer concentration, investment needs and potential margin pressure as Qualcomm ramps its data-center business. Qualcomm selloff and uncertainty
• Negative Sentiment: Analyst coverage remains cautious: Bank of America maintained an underperform rating, while other reports point to falling earnings estimates and margin risks. A comparison also favored Silicon Motion on performance, estimates and valuation. Bank of America remains cautious

Qualcomm Stock Up 0.3%

NASDAQ QCOM opened at $177.14 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $178.65 and a two-hundred day moving average of $169.90. The firm has a market capitalization of $189.54 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 2.07 and a beta of 1.70. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92.

Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The firm had revenue of $10.44 billion during the quarter, compared to analyst estimates of $10.12 billion. During the same quarter last year, the business earned $3.00 EPS. The business’s revenue was down 8.4% on a year-over-year basis. On average, analysts predict that Qualcomm Incorporated will post 6.75 earnings per share for the current year.

Qualcomm Dividend Announcement

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

Wall Street Analyst Weigh In

QCOM has been the topic of several research analyst reports. Sanford C. Bernstein decreased their price target on shares of Qualcomm from $165.00 to $155.00 and set a “market perform” rating on the stock in a research note on Monday, November 2nd. KeyCorp reissued a “sector weight” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Wells Fargo & Company cut their price target on Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised Qualcomm from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Freedom Capital raised Qualcomm from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $197.13.

Insider Buying and Selling

In other Qualcomm news, CAO Patricia Grech sold 208 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $170.00, for a total value of $35,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,501 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $161.54, for a total value of $242,471.54. Following the transaction, the executive vice president directly owned 27,271 shares in the company, valued at approximately $4,405,357.34. This represents a 5.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,520 shares of company stock worth $6,101,411 over the last three months. 0.05% of the stock is currently owned by company insiders.

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.