Rep. William R. Keating Buys QUALCOMM Incorporated (NASDAQ:QCOM) Stock

Representative William R. Keating (D-Massachusetts) recently bought shares of QUALCOMM Incorporated (NASDAQ:QCOM). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in QUALCOMM stock on October 31st.

Representative William R. Keating also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOGL) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Amentum (NYSE:AMTM) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Caterpillar (NYSE:CAT) on 9/11/2024.
• Sold $1,001 – $15,000 in shares of NXP Semiconductors (NASDAQ:NXPI) on 9/11/2024.

QUALCOMM Price Performance

Shares of QCOM stock opened at $170.91 on Friday. QUALCOMM Incorporated has a 12-month low of $119.85 and a 12-month high of $230.63. The firm has a market capitalization of $190.39 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average of $168.53 and a 200-day moving average of $182.15.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 39.70%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 8.62 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Pine Haven Investment Counsel Inc increased its stake in shares of QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares during the last quarter. Buffington Mohr McNeal increased its stake in shares of QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after purchasing an additional 53 shares during the last quarter. TRUE Private Wealth Advisors increased its stake in shares of QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC increased its stake in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. grew its stake in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Susquehanna cut their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $212.16.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,146 shares of company stock worth $2,709,186. Insiders own 0.08% of the company’s stock.

About Representative Keating

Bill Keating (Democratic Party) is a member of the U.S. House, representing Massachusetts’ 9th Congressional District. He assumed office on January 3, 2013. His current term ends on January 3, 2025. Keating (Democratic Party) is running for re-election to the U.S. House to represent Massachusetts’ 9th Congressional District. He declared candidacy for the 2024 election. Keating was first elected to the House in 2010 for Massachusetts’ 10th Congressional District but due to redistricting, he won re-election in Massachusetts’ 9th Congressional District on November 6, 2012. Prior to being elected to the House, Keating was a member of the Massachusetts House of Representatives and a member of the Massachusetts State Senate. He also served as the Norfolk District Attorney. After earning his bachelor’s degree, Keating went into politics as a 23-year-old representative in the Massachusetts House of Representatives. He served in that chamber for seven years and went on to be elected to the Massachusetts Senate. Keating also earned his master’s degree and J.D., passing the Massachusetts bar. In the decade between serving in the state senate and being elected to the U.S. House, Keating worked as the Norfolk district attorney.

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.