HighTower Advisors LLC Has $221.39 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

HighTower Advisors LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,299,006 shares of the wireless technology company's stock after purchasing an additional 91,354 shares during the period. HighTower Advisors LLC owned 0.12% of QUALCOMM worth $221,391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the third quarter valued at about $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM in the second quarter worth $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth about $32,000. Planning Capital Management Corp increased its holdings 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 buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC lifted its holdings in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock worth $35,000 after buying an additional 74 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.3 %

QCOM traded down $0.45 on Tuesday, hitting $162.58. 6,956,790 shares of the company were exchanged, compared to its average volume of 9,207,814. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock's fifty day moving average is $166.64 and its 200-day moving average is $180.58. The company has a market cap of $180.63 billion, a PE ratio of 18.08, a PEG ratio of 2.74 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $128.03 and a 12 month high of $230.63.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Wolfe Research lowered QUALCOMM from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 12th. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have assigned 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, QUALCOMM currently has a consensus rating of "Moderate Buy" and an average target price of $210.15.

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.