IPG Investment Advisors LLC Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

IPG Investment Advisors LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 108.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,488 shares of the wireless technology company’s stock after acquiring an additional 3,898 shares during the period. IPG Investment Advisors LLC’s holdings in QUALCOMM were worth $832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of QUALCOMM by 1.4% during the 2nd quarter. BlackRock Inc. now owns 85,088,444 shares of the wireless technology company’s stock worth $10,128,928,000 after acquiring an additional 1,191,089 shares during the period. State Street Corp raised its holdings in shares of QUALCOMM by 1.1% during the 2nd quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock worth $5,837,985,000 after acquiring an additional 549,861 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in 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 valued at $2,703,193,000 after buying an additional 24,566,978 shares during the period. Morgan Stanley raised its holdings in QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after buying an additional 3,929,586 shares during the period. Finally, Geode Capital Management LLC raised its holdings in QUALCOMM by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 21,582,298 shares of the wireless technology company’s stock valued at $2,562,664,000 after buying an additional 549,099 shares during the period. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 3,098 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $402,740.00. Following the transaction, the chief accounting officer now directly owns 247 shares in the company, valued at $32,110. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Neil Martin sold 3,098 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $402,740.00. Following the transaction, the chief accounting officer now directly owns 247 shares in the company, valued at $32,110. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now owns 4,972 shares in the company, valued at $691,108. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,198 shares of company stock worth $1,752,690. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.6 %

QCOM traded up $2.47 on Monday, reaching $153.47. The company’s stock had a trading volume of 6,472,183 shares, compared to its average volume of 9,346,271. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $157.98. The stock has a 50 day moving average of $142.52 and a two-hundred day moving average of $125.20. The company has a market capitalization of $171.27 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.06 and a beta of 1.42.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.09%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Friday, November 3rd. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Mizuho lifted their target price on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Piper Sandler lifted their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, Canaccord Genuity Group lifted their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.71.

Check Out Our Latest Report on QUALCOMM

QUALCOMM Profile

(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.

See Also

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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