Orion Portfolio Solutions LLC Buys 7,033 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Orion Portfolio Solutions LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,966 shares of the wireless technology company's stock after buying an additional 7,033 shares during the quarter. Orion Portfolio Solutions LLC's holdings in QUALCOMM were worth $11,558,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. TRUE Private Wealth Advisors lifted its stake in QUALCOMM by 2.2% during the second 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 during the period. Macroview Investment Management LLC lifted its stake in QUALCOMM by 10.5% during the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company's stock worth $119,000 after purchasing an additional 57 shares during the period. McClarren Financial Advisors Inc. lifted its stake in QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock worth $40,000 after purchasing an additional 60 shares during the period. Paulson Wealth Management Inc. lifted its stake in QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company's stock worth $475,000 after purchasing an additional 61 shares during the period. Finally, Tranquility Partners LLC lifted its stake in QUALCOMM by 2.1% during the second quarter. Tranquility Partners LLC now owns 3,044 shares of the wireless technology company's stock worth $606,000 after purchasing an additional 62 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on QCOM shares. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Wolfe Research cut shares of QUALCOMM from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 12th. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a "hold" rating and a $180.00 target price for the company. Finally, KeyCorp cut shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus target price of $210.15.

QUALCOMM Stock Performance

QCOM stock traded down $0.88 during mid-day trading on Friday, hitting $159.51. 9,915,824 shares of the company were exchanged, compared to its average volume of 8,740,207. The business has a 50 day simple moving average of $165.93 and a 200-day simple moving average of $179.32. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $177.22 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.73 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $130.39 and a 1-year high of $230.63.

QUALCOMM Announces Dividend

The business 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 2.13%. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,450 shares of company stock worth $3,395,926 over the last three months. Insiders own 0.08% of the company's stock.

QUALCOMM 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.