L & S Advisors Inc Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

L & S Advisors Inc lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 42.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,461 shares of the wireless technology company's stock after acquiring an additional 13,145 shares during the quarter. L & S Advisors Inc's holdings in QUALCOMM were worth $7,561,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the third quarter worth about $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the second quarter worth about $32,000. 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 worth $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Aspect Partners LLC increased its stake 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 worth $35,000 after purchasing an additional 74 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.7 %

Shares of NASDAQ QCOM traded up $1.15 during mid-day trading on Thursday, reaching $155.42. The company had a trading volume of 8,238,514 shares, compared to its average volume of 9,034,746. The stock has a market cap of $172.67 billion, a P/E ratio of 17.29, a PEG ratio of 2.77 and a beta of 1.28. The firm has a 50 day simple moving average of $168.04 and a two-hundred day simple moving average of $181.75. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. KeyCorp cut shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. UBS Group upped their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. Finally, Benchmark reaffirmed a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $210.15.

Insider Transactions at QUALCOMM

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

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.