GenTrust LLC Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

GenTrust LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 128.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,396 shares of the wireless technology company’s stock after buying an additional 1,346 shares during the period. GenTrust LLC’s holdings in QUALCOMM were worth $407,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Meridian Wealth Management LLC purchased a new position in QUALCOMM in the third quarter worth $1,617,000. Icon Wealth Advisors LLC lifted its stake in QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after purchasing an additional 18,315 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of QUALCOMM by 0.9% during the 3rd quarter. Raymond James Trust N.A. now owns 208,398 shares of the wireless technology company’s stock valued at $35,438,000 after purchasing an additional 1,952 shares during the last quarter. 49 Wealth Management LLC raised its holdings in shares of QUALCOMM by 40.5% during the 3rd quarter. 49 Wealth Management LLC now owns 1,907 shares of the wireless technology company’s stock valued at $324,000 after buying an additional 550 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in QUALCOMM by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock worth $1,129,640,000 after buying an additional 52,897 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on QCOM shares. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. 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, November 7th. Finally, Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.15.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their position. 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 three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM stock opened at $156.79 on Friday. The business’s fifty day moving average is $167.82 and its 200 day moving average is $181.57. 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 stock has a market cap of $174.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.61 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63.

QUALCOMM Announces Dividend

The firm 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 37.82%.

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.