Valley Wealth Managers Inc. Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Valley Wealth Managers Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,674 shares of the wireless technology company’s stock after buying an additional 2,522 shares during the period. Valley Wealth Managers Inc.’s holdings in QUALCOMM were worth $5,216,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter valued at approximately $26,000. HWG Holdings LP purchased a new stake in QUALCOMM in the 2nd quarter worth about $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter worth about $32,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC raised its holdings in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.0 %

Shares of QCOM traded down $0.02 during trading hours on Friday, hitting $163.95. The stock had a trading volume of 854,656 shares, compared to its average volume of 8,981,148. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The firm has a market cap of $182.15 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.70 and a beta of 1.28. The company’s fifty day simple moving average is $168.30 and its 200 day simple moving average is $182.16.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Wall Street Analyst Weigh In

A number of brokerages have commented on QCOM. Barclays upped their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. UBS Group upped their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Rosenblatt Securities raised their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $210.92.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction 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 transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % 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. 0.08% of the stock is currently owned by corporate insiders.

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.