LPL Financial LLC Buys 123,215 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

LPL Financial LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,286,536 shares of the wireless technology company’s stock after buying an additional 123,215 shares during the period. LPL Financial LLC owned about 0.12% of QUALCOMM worth $218,775,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cypress Capital Group raised its position in QUALCOMM by 1.4% in the third quarter. Cypress Capital Group now owns 22,312 shares of the wireless technology company’s stock worth $3,794,000 after purchasing an additional 313 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in QUALCOMM by 54.3% in the third quarter. Landscape Capital Management L.L.C. now owns 20,273 shares of the wireless technology company’s stock worth $3,447,000 after purchasing an additional 7,133 shares in the last quarter. Intech Investment Management LLC raised its position in QUALCOMM by 180.8% in the third quarter. Intech Investment Management LLC now owns 118,491 shares of the wireless technology company’s stock worth $20,149,000 after purchasing an additional 76,296 shares in the last quarter. Aurora Investment Counsel raised its position in QUALCOMM by 9.3% in the third quarter. Aurora Investment Counsel now owns 13,975 shares of the wireless technology company’s stock worth $2,376,000 after purchasing an additional 1,194 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its position in QUALCOMM by 79.5% in the third quarter. Cornerstone Advisors LLC now owns 30,700 shares of the wireless technology company’s stock worth $5,221,000 after purchasing an additional 13,600 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated 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 directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.7 %

Shares of NASDAQ QCOM opened at $155.42 on Friday. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average is $168.04 and its 200-day moving average is $181.75. The stock has a market cap of $172.67 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 2.77 and a beta of 1.28.

QUALCOMM Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on QCOM shares. DZ Bank raised shares of 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. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Rosenblatt Securities raised their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Company 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.