Kingsview Wealth Management LLC Buys 8,922 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kingsview Wealth Management LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 21.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 51,369 shares of the wireless technology company’s stock after buying an additional 8,922 shares during the quarter. Kingsview Wealth Management LLC’s holdings in QUALCOMM were worth $8,735,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the last quarter. Van ECK Associates Corp lifted its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in QUALCOMM by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock valued at $1,129,640,000 after buying an additional 52,897 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of QUALCOMM by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after buying an additional 173,673 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of QUALCOMM by 0.3% in the third quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock worth $563,274,000 after buying an additional 8,300 shares during the period. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on QCOM. Sanford C. Bernstein raised their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Citigroup reduced their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Stock Up 0.9 %

NASDAQ:QCOM opened at $156.79 on Friday. 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 firm has a market cap of $174.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.61 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The firm has a 50-day simple moving average of $167.82 and a two-hundred day simple moving average of $181.57.

QUALCOMM Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,450 shares of company stock valued at $2,911,306. Corporate insiders own 0.08% of the company’s stock.

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.