Wrapmanager Inc. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Wrapmanager Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,261 shares of the wireless technology company’s stock after purchasing an additional 519 shares during the period. Wrapmanager Inc.’s holdings in QUALCOMM were worth $555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at approximately $26,000. HWG Holdings LP purchased a new stake in QUALCOMM during the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter valued at approximately $32,000. Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Finally, Aspect Partners LLC raised its stake in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 2.5 %

QUALCOMM stock opened at $164.50 on Tuesday. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The stock has a market capitalization of $182.76 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The firm has a 50 day simple moving average of $168.42 and a 200-day simple moving average of $182.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein raised their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.92.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 over the last ninety days. Insiders own 0.08% of the company’s stock.

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.