QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Heard Capital LLC

Heard Capital LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% during the third quarter, Holdings Channel reports. The institutional investor owned 14,480 shares of the wireless technology company’s stock after buying an additional 1,580 shares during the quarter. QUALCOMM makes up approximately 0.1% of Heard Capital LLC’s investment portfolio, making the stock its 18th largest position. Heard Capital LLC’s holdings in QUALCOMM were worth $2,462,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $26,000. HWG Holdings LP bought a new position in QUALCOMM during the second quarter worth $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the second quarter worth $32,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Finally, Aspect Partners LLC increased its position in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 9.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the 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 completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,450 shares of company stock worth $2,911,306. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein boosted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Stock Up 2.8 %

Shares of QCOM opened at $163.03 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company’s 50-day simple moving average is $166.64 and its 200-day simple moving average is $180.58. The stock has a market capitalization of $181.13 billion, a PE ratio of 18.13, a P/E/G ratio of 2.67 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $128.03 and a 1 year high of $230.63.

QUALCOMM Dividend Announcement

The business 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.09%. QUALCOMM’s dividend payout ratio is 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.