TRU Independence Asset Management 2 LLC Makes New $341,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

TRU Independence Asset Management 2 LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,003 shares of the wireless technology company’s stock, valued at approximately $341,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Catalytic Wealth RIA LLC boosted its stake in shares of QUALCOMM by 5.0% in the 3rd quarter. Catalytic Wealth RIA LLC now owns 7,698 shares of the wireless technology company’s stock valued at $1,309,000 after purchasing an additional 364 shares in the last quarter. Peregrine Asset Advisers Inc. acquired a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $339,000. Ridgecrest Wealth Partners LLC grew its position in shares of QUALCOMM by 11.8% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 2,947 shares of the wireless technology company’s stock worth $501,000 after buying an additional 311 shares during the period. Kennebec Savings Bank acquired a new stake in QUALCOMM in the 3rd quarter valued at $548,000. Finally, Stockman Wealth Management Inc. grew its position in QUALCOMM by 3.5% in the 3rd quarter. Stockman Wealth Management Inc. now owns 6,720 shares of the wireless technology company’s stock valued at $1,143,000 after purchasing an additional 230 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the business’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 of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s 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 of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % 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 valued at $2,709,186. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Down 1.2 %

Shares of NASDAQ:QCOM opened at $170.91 on Monday. The stock has a market capitalization of $189.88 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.78 and a current ratio of 2.40. The stock’s 50-day simple moving average is $168.53 and its two-hundred day simple moving average is $182.42. QUALCOMM Incorporated has a 52-week low of $119.85 and a 52-week high of $230.63.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday. UBS Group lifted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, July 17th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.16.

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.