QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Raised by L.M. Kohn & Company

L.M. Kohn & Company lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,593 shares of the wireless technology company’s stock after purchasing an additional 705 shares during the period. L.M. Kohn & Company’s holdings in QUALCOMM were worth $1,631,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of QCOM. Ironwood Investment Counsel LLC lifted its position in shares of QUALCOMM by 3.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 38,851 shares of the wireless technology company’s stock valued at $6,607,000 after acquiring an additional 1,376 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in QUALCOMM by 78.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,584,292 shares of the wireless technology company’s stock valued at $269,409,000 after purchasing an additional 696,872 shares during the period. PDT Partners LLC lifted its holdings in shares of QUALCOMM by 1,223.1% in the third quarter. PDT Partners LLC now owns 17,200 shares of the wireless technology company’s stock valued at $2,925,000 after purchasing an additional 15,900 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of QUALCOMM by 7.0% in the third quarter. Fred Alger Management LLC now owns 59,883 shares of the wireless technology company’s stock worth $10,183,000 after buying an additional 3,911 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of QUALCOMM by 4.6% during the third quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock valued at $112,969,000 after buying an additional 29,287 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on QCOM. Citigroup decreased their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Evercore ISI increased their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

Insider Activity at QUALCOMM

In other 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 transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock worth $2,911,306 in the last ninety days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $158.53 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $166.64 and a 200 day moving average price of $180.74. The company has a market cap of $176.13 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.63 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $127.49 and a twelve month high of $230.63.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

QUALCOMM 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.