Private Wealth Partners LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,447 shares of the wireless technology company’s stock after purchasing an additional 4,247 shares during the period. QUALCOMM accounts for 1.5% of Private Wealth Partners LLC’s holdings, making the stock its 19th biggest holding. Private Wealth Partners LLC’s holdings in QUALCOMM were worth $20,869,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of QCOM. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 114,659,269 shares of the wireless technology company’s stock worth $18,260,635,000 after purchasing an additional 290,799 shares during the last quarter. State Street Corp grew its position in QUALCOMM by 0.8% during the second quarter. State Street Corp now owns 53,667,047 shares of the wireless technology company’s stock worth $8,547,014,000 after buying an additional 420,352 shares in the last quarter. Norges Bank bought a new position in shares of QUALCOMM in the second quarter worth approximately $2,713,603,000. Amundi increased its holdings in shares of QUALCOMM by 38.2% in the 2nd quarter. Amundi now owns 11,533,094 shares of the wireless technology company’s stock worth $1,866,451,000 after buying an additional 3,186,524 shares during the last quarter. Finally, Legal & General Group Plc raised its position in QUALCOMM by 0.8% during the second quarter. Legal & General Group Plc now owns 9,168,731 shares of the wireless technology company’s stock valued at $1,460,212,000 after purchasing an additional 74,243 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.
QUALCOMM Stock Performance
NASDAQ QCOM opened at $151.59 on Friday. The firm has a market capitalization of $161.91 billion, a P/E ratio of 31.00, a PEG ratio of 3.39 and a beta of 1.21. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $205.95. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.10 and a current ratio of 2.82. The stock has a 50-day simple moving average of $169.22 and a two-hundred day simple moving average of $165.28.
QUALCOMM Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.3%. QUALCOMM’s payout ratio is currently 72.80%.
Insider Buying and Selling
In other QUALCOMM news, CAO Patricia Y. Grech sold 203 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $170.00, for a total transaction of $34,510.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $173.30, for a total value of $577,608.90. Following the transaction, the executive vice president directly owned 38,932 shares in the company, valued at approximately $6,746,915.60. This represents a 7.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,820 shares of company stock valued at $7,883,482 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, November 6th. Piper Sandler increased their price objective on shares of QUALCOMM from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. TD Cowen reiterated a “buy” rating on shares of QUALCOMM in a research note on Thursday, November 6th. Bank of America raised their target price on QUALCOMM from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Citigroup reiterated a “neutral” rating on shares of QUALCOMM in a research report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Hold” and a consensus price target of $189.06.
Check Out Our Latest Stock Report on QCOM
About QUALCOMM
QUALCOMM Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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