LPL Financial LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

LPL Financial LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,286,536 shares of the wireless technology company's stock after acquiring an additional 123,215 shares during the period. LPL Financial LLC owned 0.12% of QUALCOMM worth $218,775,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM in the third quarter worth about $26,000. HWG Holdings LP purchased a new position in QUALCOMM during the second quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the 2nd quarter worth approximately $32,000. Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after buying an additional 114 shares in the last quarter. Finally, Aspect Partners LLC lifted its holdings 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 acquiring an additional 74 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 0.9 %

Shares of QUALCOMM stock traded up $1.33 during trading hours on Friday, reaching $156.79. 5,640,886 shares of the company's stock were exchanged, compared to its average volume of 9,019,815. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The stock has a market cap of $174.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.77 and a beta of 1.28. The company has a 50 day moving average of $167.82 and a two-hundred day moving average of $181.57. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Susquehanna cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday. Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, TD Cowen upgraded shares of QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.15.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company's stock, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly 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 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 over the last quarter. Company insiders own 0.08% of the company's stock.

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.