Soltis Investment Advisors LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Soltis Investment Advisors LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1,924.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,410 shares of the wireless technology company’s stock after acquiring an additional 31,760 shares during the period. Soltis Investment Advisors LLC’s holdings in QUALCOMM were worth $5,681,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lantz Financial LLC acquired a new position in QUALCOMM during the 2nd quarter worth approximately $234,000. Cornerstone Wealth Management LLC raised its position in shares of QUALCOMM by 1.4% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 9,578 shares of the wireless technology company’s stock valued at $1,908,000 after purchasing an additional 134 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of QUALCOMM by 14.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 4,124 shares of the wireless technology company’s stock worth $821,000 after purchasing an additional 532 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in QUALCOMM by 13,751.2% during the second quarter. Wedge Capital Management L L P NC now owns 302,510 shares of the wireless technology company’s stock valued at $60,254,000 after buying an additional 300,326 shares in the last quarter. Finally, Red Door Wealth Management LLC lifted its stake in QUALCOMM by 7.2% during the second quarter. Red Door Wealth Management LLC now owns 40,961 shares of the wireless technology company’s stock worth $8,159,000 after purchasing an additional 2,754 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Melius Research started coverage on shares of QUALCOMM in a report on Monday. They set a “hold” rating and a $180.00 price target on the stock. Finally, Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $156.46 on Wednesday. QUALCOMM Incorporated has a one year low of $134.07 and a one year high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $165.75 and a 200 day simple moving average of $179.03. The firm has a market capitalization of $173.83 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.67 and a beta of 1.25.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,450 shares of company stock valued at $3,395,926 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.