QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Adero Partners LLC

Adero Partners LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,811 shares of the wireless technology company’s stock after acquiring an additional 86 shares during the quarter. Adero Partners LLC’s holdings in QUALCOMM were worth $308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Reston Wealth Management LLC acquired a new position in QUALCOMM during the third quarter valued at approximately $26,000. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the second quarter valued at approximately $32,000. Planning Capital Management Corp lifted its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Finally, Aspect Partners LLC lifted its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction 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 $8,535,970.15. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock valued at $2,709,186 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

QCOM stock opened at $160.50 on Friday. The company has a market capitalization of $178.32 billion, a P/E ratio of 17.85, a PEG ratio of 2.70 and a beta of 1.28. The company has a 50-day simple moving average of $168.35 and a 200 day simple moving average of $182.21. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The business 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. This represents a $3.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Evercore ISI boosted 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. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One investment 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’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target 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.