Icon Wealth Advisors LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Icon Wealth Advisors LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 123.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,186 shares of the wireless technology company's stock after acquiring an additional 18,315 shares during the quarter. Icon Wealth Advisors LLC's holdings in QUALCOMM were worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter worth about $30,000. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $26,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC grew its position in shares of QUALCOMM by 71.8% in 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. Finally, Planning Capital Management Corp increased its stake in shares of 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 buying an additional 114 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QCOM. Barclays upped their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a report on Thursday, November 7th. DZ Bank raised QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Wednesday. Finally, UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $210.15.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were 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 owns 213,364 shares of the company's stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock worth $2,911,306 in the last three months. Insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.33 during trading on Friday, reaching $156.79. 5,640,886 shares of the stock traded hands, compared to its average volume of 9,019,815. 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 company has a market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.77 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The business has a fifty day simple moving average of $168.04 and a two-hundred day simple moving average of $181.75.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid 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 2.17%. QUALCOMM's payout ratio is currently 37.82%.

QUALCOMM Company 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.