Prospera Private Wealth LLC Takes $2.24 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Prospera Private Wealth LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,178 shares of the wireless technology company's stock, valued at approximately $2,241,000.

A number of other large investors have also made changes to their positions in QCOM. Pine Haven Investment Counsel Inc boosted its holdings in QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company's stock worth $410,000 after acquiring an additional 50 shares during the last quarter. Buffington Mohr McNeal boosted its holdings in QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company's stock worth $279,000 after purchasing an additional 53 shares during the last quarter. TRUE Private Wealth Advisors grew its position in QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company's stock worth $525,000 after purchasing an additional 57 shares in the last quarter. Macroview Investment Management LLC lifted its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company's stock worth $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its position in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock worth $40,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research analyst reports. KeyCorp cut QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Piper Sandler reissued an "overweight" rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. Finally, Citigroup lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $210.15.

QUALCOMM Trading Down 6.2 %

Shares of NASDAQ:QCOM traded down $10.27 during trading on Wednesday, reaching $154.44. 6,946,262 shares of the company traded hands, compared to its average volume of 8,993,943. 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. The business's fifty day moving average is $168.48 and its 200-day moving average is $182.13. The firm has a market capitalization of $171.58 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 2.70 and a beta of 1.28.

QUALCOMM Announces Dividend

The company 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's payout ratio is 37.82%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction 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 sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,146 shares of company stock valued at $2,709,186. 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.