Darwin Wealth Management LLC Takes $2.39 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Darwin Wealth Management LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,059 shares of the wireless technology company's stock, valued at approximately $2,391,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM during the third quarter valued at $26,000. HWG Holdings LP bought a new stake in QUALCOMM during the second quarter valued at $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM during the second quarter valued at $32,000. Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% during 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 during the last quarter. Finally, Aspect Partners LLC increased its stake in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on QCOM. KeyCorp lowered shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. UBS Group boosted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Wolfe Research downgraded shares of QUALCOMM from an "outperform" rating to a "peer perform" rating in a report on Monday, August 12th. Robert W. Baird boosted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Finally, Westpark Capital reissued a "hold" rating on shares of QUALCOMM in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and an average target price of $210.15.

QUALCOMM Trading Down 6.3 %

NASDAQ QCOM traded down $10.44 on Wednesday, hitting $154.27. 14,454,817 shares of the company were exchanged, compared to its average volume of 9,027,241. The company's 50 day moving average price is $168.48 and its 200-day moving average price is $182.13. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a market capitalization of $171.39 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63.

QUALCOMM Dividend Announcement

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 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 dividend yield of 2.20%. QUALCOMM's dividend payout ratio is 37.82%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company's stock, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares of the company's stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock worth $2,709,186 in the last 90 days. Company 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.