Kestra Investment Management LLC Buys Shares of 4,555 QUALCOMM Incorporated (NASDAQ:QCOM)

Kestra Investment Management LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,555 shares of the wireless technology company’s stock, valued at approximately $775,000.

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

Wall Street Analyst Weigh In

QCOM has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Loop Capital began coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. UBS Group increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, KeyCorp lowered 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 assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Stock Up 1.4 %

Shares of NASDAQ QCOM opened at $158.53 on Monday. QUALCOMM Incorporated has a 52-week low of $127.49 and a 52-week high of $230.63. 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 business has a fifty day moving average of $166.64 and a two-hundred day moving average of $180.58. The stock has a market cap of $176.13 billion, a PE ratio of 17.63, a PEG ratio of 2.67 and a beta of 1.28.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock worth $2,911,306 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.