New England Asset Management Inc. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

New England Asset Management Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,346 shares of the wireless technology company’s stock after buying an additional 85 shares during the quarter. QUALCOMM comprises 1.2% of New England Asset Management Inc.’s portfolio, making the stock its 27th biggest holding. New England Asset Management Inc.’s holdings in QUALCOMM were worth $7,711,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc grew its holdings in shares of QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after purchasing an additional 50 shares in the last quarter. Buffington Mohr McNeal lifted its position in QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after purchasing an additional 53 shares during the last quarter. TRUE Private Wealth Advisors grew its stake in shares of QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after buying an additional 57 shares in the last quarter. Macroview Investment Management LLC increased its holdings in shares of QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after buying an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. raised its position in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on QCOM shares. Barclays lifted their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.92.

QUALCOMM Trading Up 2.5 %

Shares of NASDAQ QCOM opened at $164.50 on Tuesday. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The firm has a market cap of $182.76 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The business has a fifty day simple moving average of $168.42 and a two-hundred day simple moving average of $182.23. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the business’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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 over the last three months. 0.08% of the stock is owned by company insiders.

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.