9,587 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Meridian Wealth Management LLC

Meridian Wealth Management LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,587 shares of the wireless technology company's stock, valued at approximately $1,617,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the third quarter worth $26,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the second quarter worth $32,000. Aspect Partners LLC lifted its position in 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 buying an additional 74 shares during the period. Finally, Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% during the 3rd 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 in the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.33 during trading on Friday, reaching $156.79. 5,709,268 shares of the stock traded hands, compared to its average volume of 9,249,130. 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 2.61 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 $167.82 and a two-hundred day simple moving average of $181.58.

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 given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM's dividend payout ratio (DPR) is currently 37.82%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent research reports. Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Piper Sandler restated an "overweight" rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Benchmark reiterated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI upped their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. One research 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $210.15.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock valued at $2,911,306 in the last three months. Corporate 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.