Spire Wealth Management Sells 1,704 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Spire Wealth Management lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 17.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,221 shares of the wireless technology company’s stock after selling 1,704 shares during the quarter. Spire Wealth Management’s holdings in QUALCOMM were worth $913,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its stake in shares of QUALCOMM by 117,461.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after purchasing an additional 24,566,978 shares during the period. Norges Bank bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $1,467,351,000. Cowa LLC bought a new position in shares of QUALCOMM in the 1st quarter worth approximately $94,000. Morgan Stanley lifted its stake in shares of QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after purchasing an additional 3,929,586 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of QUALCOMM by 409.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,011,105 shares of the wireless technology company’s stock worth $331,039,000 after purchasing an additional 2,419,686 shares during the period. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Monday, November 13th. The shares were sold at an average price of $124.00, for a total transaction of $124,000.00. Following the completion of the transaction, the insider now directly owns 3,745 shares of the company’s stock, valued at $464,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Monday, November 13th. The stock was sold at an average price of $124.00, for a total transaction of $124,000.00. Following the completion of the sale, the insider now directly owns 3,745 shares in the company, valued at $464,380. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 10,000 shares of QUALCOMM stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $120.11, for a total value of $1,201,100.00. Following the sale, the chief technology officer now owns 243,795 shares of the company’s stock, valued at $29,282,217.45. The disclosure for this sale can be found here. Insiders sold 23,198 shares of company stock valued at $3,077,790 over the last three months. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on QCOM shares. KeyCorp raised their target price on shares of QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Susquehanna increased their price objective on shares of QUALCOMM from $130.00 to $140.00 and gave the company a “positive” rating in a report on Thursday, November 2nd. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Canaccord Genuity Group increased their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $148.71.

Get Our Latest Report on QUALCOMM

QUALCOMM Stock Up 0.0 %

NASDAQ QCOM opened at $144.10 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $141.35 and a two-hundred day moving average of $124.69. The firm has a market capitalization of $160.82 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.98 and a beta of 1.42. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $157.98.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

About QUALCOMM

(Free Report)

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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