Massachusetts Wealth Management purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,848 shares of the wireless technology company’s stock, valued at approximately $824,000.
Several other hedge funds also recently modified their holdings of QCOM. DGS Capital Management LLC bought a new stake in shares of QUALCOMM in the first quarter valued at about $265,000. Thrive Wealth Management LLC grew its holdings in shares of QUALCOMM by 4.1% during the 1st quarter. Thrive Wealth Management LLC now owns 2,246 shares of the wireless technology company’s stock worth $380,000 after purchasing an additional 89 shares in the last quarter. Transform Wealth LLC increased its position in shares of QUALCOMM by 2.3% during the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after purchasing an additional 66 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of QUALCOMM by 10.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,277 shares of the wireless technology company’s stock valued at $555,000 after purchasing an additional 319 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its position in QUALCOMM by 89.7% in the first quarter. Artemis Investment Management LLP now owns 72,508 shares of the wireless technology company’s stock worth $12,269,000 after purchasing an additional 34,282 shares during the period. 74.35% of the stock is owned by institutional investors.
QUALCOMM Trading Up 2.5 %
Shares of QCOM traded up $4.19 on Friday, reaching $172.29. 1,305,852 shares of the company’s stock were exchanged, compared to its average volume of 8,976,732. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock has a market capitalization of $191.93 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $169.19 and a two-hundred day moving average price of $182.05.
QUALCOMM Announces Dividend
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 given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is 44.04%.
Insider Buying and Selling at QUALCOMM
In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,245 shares of company stock valued at $3,679,407. Company insiders own 0.08% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on QCOM. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.92.
View Our Latest Report on QCOM
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.
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