Rep. Marjorie Taylor Greene Buys QUALCOMM Incorporated (NASDAQ:QCOM) Stock

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of QUALCOMM Incorporated (NASDAQ:QCOM). In a filing disclosed on November 21st, the Representative disclosed that they had bought between $1,001 and $15,000 in QUALCOMM stock on November 20th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Nestlé (OTCMKTS:NSRGY) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Southern Copper (NYSE:SCCO) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Occidental Petroleum (NYSE:OXY) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Applied Materials (NASDAQ:AMAT) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Adobe (NASDAQ:ADBE) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 11/7/2024.

QUALCOMM Stock Up 0.9 %

Shares of QCOM traded up $1.33 during trading hours on Friday, reaching $156.79. The stock had a trading volume of 5,709,268 shares, compared to its average volume of 9,249,130. The firm has a 50-day simple moving average of $167.82 and a 200 day simple moving average of $181.58. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.61 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio is 37.82%.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on 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 approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,450 shares of company stock valued at $2,911,306. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Rosenblatt Securities lifted their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

Institutional Trading of QUALCOMM

A number of hedge funds have recently bought and sold shares of QCOM. State Street Corp lifted its position in QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of QUALCOMM by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after purchasing an additional 498,284 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Institutional investors own 74.35% of the company’s stock.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

QUALCOMM Company 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.