Kingsview Wealth Management LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kingsview Wealth Management LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 21.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 51,369 shares of the wireless technology company's stock after purchasing an additional 8,922 shares during the quarter. Kingsview Wealth Management LLC's holdings in QUALCOMM were worth $8,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at approximately $30,000. Reston Wealth Management LLC bought a new position in shares of QUALCOMM during the third quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the second quarter valued at approximately $32,000. Aspect Partners LLC raised its holdings in shares of 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 acquiring an additional 74 shares in the last quarter. Finally, Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 114 shares during the period. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Rosenblatt Securities upped their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Wolfe Research cut QUALCOMM from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 12th. Finally, Benchmark reissued a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of "Moderate Buy" and an average target price of $210.15.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $1.33 during trading on Friday, hitting $156.79. The company had a trading volume of 5,709,268 shares, compared to its average volume of 9,249,130. The stock has a 50 day simple moving average of $167.82 and a 200 day simple moving average of $181.57. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The firm has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 2.61 and a beta of 1.28.

QUALCOMM Announces Dividend

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 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction 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 trade represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm'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 transaction, the chief financial officer now owns 51,437 shares of the company's stock, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is owned by company 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.