QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by King Wealth Management Group

King Wealth Management Group increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,933 shares of the wireless technology company’s stock after purchasing an additional 162 shares during the quarter. King Wealth Management Group’s holdings in QUALCOMM were worth $329,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Matrix Capital Management Company LP acquired a new stake in QUALCOMM during the 1st quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA raised its position in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. International Assets Investment Management LLC grew its holdings in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp increased its position in shares of QUALCOMM by 30.2% in 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 purchasing an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at about $229,078,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.2 %

Shares of QCOM stock opened at $163.97 on Friday. The stock has a 50 day moving average of $168.29 and a 200-day moving average of $182.29. The firm has a market cap of $182.17 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63.

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 given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s dividend payout ratio is 37.82%.

Analysts Set New Price Targets

A number of analysts have weighed in on QCOM shares. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Evercore ISI raised their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. UBS Group increased their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.92.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,146 shares of company stock valued at $2,709,186. Insiders own 0.08% of the company’s stock.

QUALCOMM Profile

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.