Providence Wealth Advisors LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Providence Wealth Advisors LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,705 shares of the wireless technology company’s stock after buying an additional 280 shares during the quarter. Providence Wealth Advisors LLC’s holdings in QUALCOMM were worth $1,468,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of QCOM. Massachusetts Financial Services Co. MA boosted its position in shares of QUALCOMM by 1,778.7% during 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 acquiring an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after acquiring an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of 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 valued at $499,320,000 after acquiring an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of 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 valued at $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S acquired a new position in shares of QUALCOMM during 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 Performance

Shares of QUALCOMM stock opened at $156.40 on Friday. The firm has a market capitalization of $173.76 billion, a P/E ratio of 17.40, a P/E/G ratio of 2.63 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week 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 firm’s 50 day moving average is $166.85 and its two-hundred day moving average is $180.92.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given 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 2.17%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the 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 sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have 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 analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Citigroup decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays upped their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twelve have issued 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 stock presently has a consensus rating of “Moderate Buy” and an average price target 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.