OneAscent Wealth Management LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

OneAscent Wealth Management LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, Holdings Channel reports. The fund purchased 2,070 shares of the wireless technology company’s stock, valued at approximately $352,000.

A number of other hedge funds have also recently modified their holdings of the business. Matrix Capital Management Company LP purchased a new position in QUALCOMM during the first quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA lifted its position in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC boosted its position in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after buying an additional 2,919,490 shares during the period. Van ECK Associates Corp grew 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 in the last quarter. Finally, Maj Invest Holding A S purchased a new position in shares of QUALCOMM during the third quarter valued at $229,078,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $164.50 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The company has a fifty day moving average price of $168.42 and a two-hundred day moving average price of $182.23. The firm has a market capitalization of $182.76 billion, a PE ratio of 18.30, a P/E/G ratio of 2.70 and a beta of 1.28.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on 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 in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Friday, August 2nd. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their price objective 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $210.92.

About QUALCOMM

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.