KG&L Capital Management LLC Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

KG&L Capital Management LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 26.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,568 shares of the wireless technology company’s stock after acquiring an additional 1,787 shares during the quarter. KG&L Capital Management LLC’s holdings in QUALCOMM were worth $1,457,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Leelyn Smith LLC purchased a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $208,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of QUALCOMM by 1.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 21,150 shares of the wireless technology company’s stock valued at $3,581,000 after purchasing an additional 267 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of QUALCOMM by 40.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,725 shares of the wireless technology company’s stock valued at $800,000 after purchasing an additional 1,349 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of QUALCOMM by 3.7% during the 1st quarter. Proficio Capital Partners LLC now owns 4,062 shares of the wireless technology company’s stock worth $688,000 after purchasing an additional 146 shares during the period. Finally, CapWealth Advisors LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $212,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s 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 owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,245 shares of company stock worth $2,395,407 over the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.5 %

NASDAQ:QCOM opened at $165.27 on Monday. QUALCOMM Incorporated has a 1 year low of $114.45 and a 1 year high of $230.63. The stock has a market cap of $184.11 billion, a P/E ratio of 21.41, a P/E/G ratio of 1.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a 50-day simple moving average of $168.77 and a 200-day simple moving average of $182.12.

QUALCOMM Announces Dividend

The firm 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 44.04%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Susquehanna dropped their target price on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. Barclays boosted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Cantor Fitzgerald dropped their price objective on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.92.

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.