Lake Street Advisors Group LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,627 shares of the wireless technology company’s stock after acquiring an additional 587 shares during the period. Lake Street Advisors Group LLC’s holdings in QUALCOMM were worth $1,265,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Milestone Investment Advisors LLC acquired a new position in QUALCOMM during the first quarter valued at approximately $26,000. TD Capital Management LLC increased its holdings in QUALCOMM by 118.8% in the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after purchasing an additional 120 shares during the period. Avion Wealth boosted its position in QUALCOMM by 1,830.8% during the second quarter. Avion Wealth now owns 251 shares of the wireless technology company’s stock valued at $29,000 after acquiring an additional 238 shares during the last quarter. Pacific Center for Financial Services bought a new stake in QUALCOMM during the first quarter valued at $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of QUALCOMM during the 1st quarter worth about $32,000. 71.10% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on QCOM shares. Wells Fargo & Company raised their price target on shares of QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a research report on Tuesday, September 12th. Piper Sandler raised their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Friday, November 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $145.00 price target on shares of QUALCOMM in a report on Thursday, September 14th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $145.00 price objective on shares of QUALCOMM in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.85.
QUALCOMM Stock Up 0.6 %
NASDAQ:QCOM traded up $0.77 during mid-day trading on Friday, hitting $129.47. 6,544,058 shares of the company’s stock were exchanged, compared to its average volume of 9,474,084. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $139.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.33 and a quick ratio of 1.67. The business has a fifty day moving average price of $113.29 and a 200 day moving average price of $114.73. The company has a market cap of $144.49 billion, a PE ratio of 20.17, a P/E/G ratio of 1.44 and a beta of 1.21.
QUALCOMM Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, November 29th. QUALCOMM’s payout ratio is currently 49.84%.
Insider Transactions at QUALCOMM
In other news, insider Alexander H. Rogers sold 6,001 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $110.40, for a total transaction of $662,510.40. Following the completion of the transaction, the insider now directly owns 25,229 shares of the company’s stock, valued at $2,785,281.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 27,962 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the transaction, the chief technology officer now owns 241,369 shares in the company, valued at $27,330,211.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 6,001 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $110.40, for a total transaction of $662,510.40. Following the transaction, the insider now owns 25,229 shares of the company’s stock, valued at approximately $2,785,281.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,963 shares of company stock worth $5,377,298. Corporate insiders own 0.07% of the company’s stock.
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.
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