Cypress Capital Group Acquires 313 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cypress Capital Group lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,312 shares of the wireless technology company’s stock after purchasing an additional 313 shares during the period. Cypress Capital Group’s holdings in QUALCOMM were worth $3,794,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. HWG Holdings LP bought a new stake in shares of QUALCOMM during the 2nd quarter worth $30,000. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter valued at about $26,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC lifted its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Finally, Planning Capital Management Corp boosted its position 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 valued at $34,000 after acquiring an additional 114 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on QCOM shares. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Stock Performance

QCOM stock opened at $154.27 on Thursday. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market cap of $171.39 billion, a PE ratio of 17.16, a P/E/G ratio of 2.77 and a beta of 1.28. The business’s 50-day moving average price is $168.23 and its two-hundred day moving average price is $181.93.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 dividend yield of 2.20%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on 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 directly owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by corporate insiders.

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.