Icon Wealth Advisors LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Icon Wealth Advisors LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,123 shares of the wireless technology company’s stock after buying an additional 252 shares during the period. Icon Wealth Advisors LLC’s holdings in QUALCOMM were worth $2,572,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. LRI Investments LLC bought a new stake in shares of QUALCOMM in the first quarter valued at $44,000. DekaBank Deutsche Girozentrale grew its position in QUALCOMM by 1.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 618,415 shares of the wireless technology company’s stock worth $104,036,000 after buying an additional 11,411 shares in the last quarter. American Trust grew its position in QUALCOMM by 3.4% during the first quarter. American Trust now owns 3,330 shares of the wireless technology company’s stock worth $564,000 after buying an additional 110 shares in the last quarter. Keynote Financial Services LLC purchased a new position in QUALCOMM during the first quarter worth about $1,636,000. Finally, Cape Investment Advisory Inc. grew its position in QUALCOMM by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 6,537 shares of the wireless technology company’s stock worth $1,107,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ QCOM opened at $156.40 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market capitalization of $173.76 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.63 and a beta of 1.28. The stock has a 50 day moving average price of $166.85 and a 200 day moving average price of $180.92. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s 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 transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on QCOM. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

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.