Harvest Investment Advisors LLC Acquires 745 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Harvest Investment Advisors LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.5% in the 3rd quarter, Holdings Channel reports. The fund owned 12,289 shares of the wireless technology company’s stock after purchasing an additional 745 shares during the quarter. QUALCOMM comprises 1.4% of Harvest Investment Advisors LLC’s portfolio, making the stock its 14th biggest holding. Harvest Investment Advisors LLC’s holdings in QUALCOMM were worth $2,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wedge Capital Management L L P NC raised its holdings in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after purchasing an additional 50,438 shares during the period. Icon Wealth Advisors LLC raised its stake in shares of QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after purchasing an additional 18,315 shares in the last quarter. Aljian Capital Management LLC bought a new position in QUALCOMM in the third quarter worth $1,820,000. Finally, Captrust Financial Advisors boosted its stake in QUALCOMM by 4.6% during the third quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock worth $112,969,000 after buying an additional 29,287 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $159.51 on Monday. The company has a market cap of $177.22 billion, a PE ratio of 17.74, a PEG ratio of 2.67 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 1 year low of $130.39 and a 1 year high of $230.63. The company’s 50-day moving average is $165.93 and its two-hundred day moving average is $179.32.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.13%. QUALCOMM’s payout ratio is presently 37.82%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,450 shares of company stock valued at $3,395,926. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QCOM. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.15.

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.