Kovitz Investment Group Partners LLC Purchases 17,446 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kovitz Investment Group Partners LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 309,030 shares of the wireless technology company's stock after buying an additional 17,446 shares during the period. Kovitz Investment Group Partners LLC's holdings in QUALCOMM were worth $50,407,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vienna Asset Management LLC bought a new position in shares of QUALCOMM in the third quarter valued at approximately $214,000. Voya Financial Advisors Inc. raised its position in QUALCOMM by 53.5% in the 3rd quarter. Voya Financial Advisors Inc. now owns 9,610 shares of the wireless technology company's stock valued at $1,635,000 after buying an additional 3,349 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its stake in QUALCOMM by 177.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 782,322 shares of the wireless technology company's stock valued at $133,034,000 after acquiring an additional 500,849 shares in the last quarter. Wahed Invest LLC boosted its holdings in QUALCOMM by 14.9% during the 3rd quarter. Wahed Invest LLC now owns 26,927 shares of the wireless technology company's stock worth $4,579,000 after acquiring an additional 3,489 shares during the last quarter. Finally, Weaver Consulting Group purchased a new position in QUALCOMM during the 3rd quarter worth $203,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on QCOM. Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a "hold" rating and a $180.00 price target on the stock. Evercore ISI boosted their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Citigroup decreased their price target on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a research report on Wednesday, October 16th. Sanford C. Bernstein lifted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned 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, QUALCOMM has an average rating of "Moderate Buy" and an average price target of $210.15.

QUALCOMM Price Performance

NASDAQ QCOM traded down $0.88 during trading hours on Friday, hitting $159.51. The company had a trading volume of 9,915,824 shares, compared to its average volume of 8,980,462. The firm has a 50 day simple moving average of $166.15 and a 200 day simple moving average of $179.89. QUALCOMM Incorporated has a 52 week low of $130.39 and a 52 week high of $230.63. The firm has a market capitalization of $177.22 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.72 and a beta of 1.25. 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 Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.13%. QUALCOMM's dividend payout ratio is currently 37.82%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,450 shares of company stock valued at $3,395,926. 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.