Soltis Investment Advisors LLC Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Soltis Investment Advisors LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1,924.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,410 shares of the wireless technology company's stock after purchasing an additional 31,760 shares during the quarter. Soltis Investment Advisors LLC's holdings in QUALCOMM were worth $5,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rehmann Capital Advisory Group boosted its holdings in shares of QUALCOMM by 6.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 10,249 shares of the wireless technology company's stock worth $1,744,000 after purchasing an additional 664 shares during the period. TD Private Client Wealth LLC boosted its stake in QUALCOMM by 1.0% during the third quarter. TD Private Client Wealth LLC now owns 9,884 shares of the wireless technology company's stock worth $1,681,000 after buying an additional 100 shares during the period. Coldstream Capital Management Inc. increased its position in QUALCOMM by 17.6% during the third quarter. Coldstream Capital Management Inc. now owns 46,441 shares of the wireless technology company's stock valued at $7,832,000 after acquiring an additional 6,948 shares during the last quarter. Strait & Sound Wealth Management LLC raised its stake in shares of QUALCOMM by 130.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 5,433 shares of the wireless technology company's stock valued at $924,000 after acquiring an additional 3,079 shares during the period. Finally, Orion Capital Management LLC lifted its holdings in shares of QUALCOMM by 1.1% in the 3rd quarter. Orion Capital Management LLC now owns 11,484 shares of the wireless technology company's stock worth $1,953,000 after acquiring an additional 120 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 2.2 %

Shares of QUALCOMM stock traded up $3.37 during trading on Wednesday, reaching $159.83. The company's stock had a trading volume of 7,079,337 shares, compared to its average volume of 8,973,366. QUALCOMM Incorporated has a 1-year low of $134.94 and a 1-year high of $230.63. The company has a 50-day simple moving average of $165.56 and a two-hundred day simple moving average of $178.65. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market cap of $177.57 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 2.67 and a beta of 1.25.

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 paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.13%. QUALCOMM's payout ratio is 37.82%.

Insiders Place Their Bets

In other QUALCOMM 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 sale, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,450 shares of company stock valued at $3,395,926. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on QCOM. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Melius initiated coverage on QUALCOMM in a research report on Monday. They set a "hold" rating and a $180.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. KeyCorp lowered shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. Finally, Melius Research started coverage on shares of QUALCOMM in a research report on Monday. They issued a "hold" rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $208.00.

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.