Oppenheimer Asset Management Inc. Buys 51,396 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Oppenheimer Asset Management Inc. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 124.9% during the third quarter, Holdings Channel.com reports. The firm owned 92,544 shares of the wireless technology company’s stock after acquiring an additional 51,396 shares during the period. Oppenheimer Asset Management Inc.’s holdings in QUALCOMM were worth $15,737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter valued at about $26,000. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC lifted its position in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at about $36,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.8 %

QUALCOMM stock opened at $160.42 on Thursday. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The firm has a market capitalization of $178.23 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 2.75 and a beta of 1.28. 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 50 day simple moving average of $168.39 and a 200 day simple moving average of $182.44.

QUALCOMM Dividend Announcement

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 paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. QUALCOMM’s dividend payout ratio is 37.82%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s 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 completion of the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s 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 transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QCOM shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Robert W. Baird lifted their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Evercore ISI lifted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

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.