FORA Capital LLC Invests $11.62 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

FORA Capital LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 68,343 shares of the wireless technology company’s stock, valued at approximately $11,622,000. QUALCOMM comprises 1.4% of FORA Capital LLC’s holdings, making the stock its 9th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at about $26,000. HWG Holdings LP acquired a new stake in QUALCOMM during the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM during the 2nd quarter valued at approximately $32,000. Planning Capital Management Corp raised its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Finally, Aspect Partners LLC lifted its position in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Up 0.3 %

QUALCOMM stock traded up $0.48 during trading on Wednesday, hitting $157.41. 492,332 shares of the company were exchanged, compared to its average volume of 8,985,686. The company has a market capitalization of $174.88 billion, a P/E ratio of 17.46, a PEG ratio of 2.67 and a beta of 1.28. The business’s 50 day moving average is $167.43 and its 200 day moving average is $181.26. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week 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.

QUALCOMM Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays raised their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the 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 completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock valued at $2,911,306 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.