Mccarter Private Wealth Services LLC Has $701,000 Stock Holdings in QUALCOMM Incorporated $QCOM

Mccarter Private Wealth Services LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,404 shares of the wireless technology company’s stock after buying an additional 70 shares during the quarter. Mccarter Private Wealth Services LLC’s holdings in QUALCOMM were worth $701,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Atlantic Edge Private Wealth Management LLC increased its stake in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in shares of QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 93 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of QUALCOMM in the second quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new stake in QUALCOMM in the second quarter worth about $32,000. Finally, Atticus Wealth Management LLC increased its position in QUALCOMM by 21,200.0% in the second quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 212 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Patricia Y. Grech sold 273 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $161.42, for a total transaction of $44,067.66. Following the completion of the transaction, the chief accounting officer directly owned 404 shares in the company, valued at approximately $65,213.68. The trade was a 40.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total value of $24,834,000.00. Following the transaction, the chief executive officer owned 149,304 shares of the company’s stock, valued at $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 166,502 shares of company stock valued at $27,472,615 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $180.90 on Friday. The firm has a market capitalization of $195.19 billion, a P/E ratio of 17.44, a PEG ratio of 2.59 and a beta of 1.23. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95. The business has a 50-day moving average of $165.85 and a 200-day moving average of $156.54. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 EPS. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s payout ratio is presently 34.33%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. Mizuho lowered their price objective on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. UBS Group set a $165.00 price objective on QUALCOMM in a research report on Monday. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the stock an “outperform” rating in a research report on Monday, July 28th. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Weiss Ratings upgraded QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.95.

QUALCOMM Profile

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.