49 Wealth Management LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

49 Wealth Management LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 40.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,907 shares of the wireless technology company’s stock after buying an additional 550 shares during the quarter. 49 Wealth Management LLC’s holdings in QUALCOMM were worth $324,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of QCOM. Legal & General Group Plc increased its position in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares during the last quarter. Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of QUALCOMM by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock worth $1,129,640,000 after acquiring an additional 52,897 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after acquiring an additional 173,673 shares in the last quarter. Finally, Swiss National Bank lifted its stake in QUALCOMM by 0.3% during the third quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock worth $563,274,000 after purchasing an additional 8,300 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.7 %

QCOM stock opened at $155.42 on Friday. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The stock has a market capitalization of $172.67 billion, a P/E ratio of 17.29, a PEG ratio of 2.77 and a beta of 1.28. The company has a 50 day moving average price of $168.04 and a two-hundred day moving average price of $181.75. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research analyst reports. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays raised their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock worth $2,911,306 in the last quarter. 0.08% of the stock is owned by insiders.

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.