Dakota Wealth Management Has $7.12 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Dakota Wealth Management reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,891 shares of the wireless technology company’s stock after selling 920 shares during the period. Dakota Wealth Management’s holdings in QUALCOMM were worth $7,124,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. DGS Capital Management LLC acquired a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $265,000. Thrive Wealth Management LLC raised its holdings in QUALCOMM by 4.1% in the first 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 during the period. Transform Wealth LLC boosted 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 worth $494,000 after purchasing an additional 66 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of QUALCOMM by 10.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,277 shares of the wireless technology company’s stock valued at $555,000 after buying an additional 319 shares during the period. Finally, Artemis Investment Management LLP increased its position in shares of QUALCOMM by 89.7% in the 1st quarter. Artemis Investment Management LLP now owns 72,508 shares of the wireless technology company’s stock valued at $12,269,000 after buying an additional 34,282 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Cantor Fitzgerald cut their price objective on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.92.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s 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 transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 over the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.9 %

Shares of QUALCOMM stock opened at $168.10 on Friday. The stock has a market cap of $187.26 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.74 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The business’s 50 day moving average is $169.30 and its 200-day moving average is $182.15.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities research analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 2.02%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

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.