Orion Capital Management LLC Has $1.95 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Orion Capital Management LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 11,484 shares of the wireless technology company’s stock after purchasing an additional 120 shares during the quarter. QUALCOMM comprises approximately 0.9% of Orion Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Orion Capital Management LLC’s holdings in QUALCOMM were worth $1,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM in the third quarter valued at approximately $26,000. HWG Holdings LP bought a new position in QUALCOMM in the second quarter valued at approximately $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the second quarter valued at approximately $32,000. Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated 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 owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,450 shares of company stock valued at $3,395,926 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $160.74 on Tuesday. QUALCOMM Incorporated has a 12-month low of $134.07 and a 12-month high of $230.63. The business has a 50-day simple moving average of $165.75 and a two-hundred day simple moving average of $179.03. 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 stock has a market cap of $178.58 billion, a PE ratio of 17.88, a PEG ratio of 2.67 and a beta of 1.25.

QUALCOMM Dividend Announcement

The company 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 $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 2.12%. QUALCOMM’s payout ratio is presently 37.82%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QCOM shares. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley reduced their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $208.00.

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.