Pinnacle Wealth Management Advisory Group LLC Purchases 2,046 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Pinnacle Wealth Management Advisory Group LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 38.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,389 shares of the wireless technology company’s stock after purchasing an additional 2,046 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in QUALCOMM were worth $1,069,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of QCOM. Calamos Wealth Management LLC lifted its position in shares of QUALCOMM by 12.9% in the third quarter. Calamos Wealth Management LLC now owns 2,207 shares of the wireless technology company’s stock worth $245,000 after purchasing an additional 252 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in QUALCOMM by 18.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,512 shares of the wireless technology company’s stock worth $925,000 after buying an additional 1,316 shares in the last quarter. Altfest L J & Co. Inc. boosted its stake in shares of QUALCOMM by 113.0% during the 3rd quarter. Altfest L J & Co. Inc. now owns 5,353 shares of the wireless technology company’s stock worth $595,000 after buying an additional 2,840 shares during the last quarter. Graypoint LLC boosted its stake in shares of QUALCOMM by 10.5% during the 3rd quarter. Graypoint LLC now owns 4,627 shares of the wireless technology company’s stock worth $514,000 after buying an additional 441 shares during the last quarter. Finally, Gratus Capital LLC grew its holdings in shares of QUALCOMM by 42.1% in the 3rd quarter. Gratus Capital LLC now owns 6,468 shares of the wireless technology company’s stock valued at $718,000 after acquiring an additional 1,917 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 46,316 shares of company stock valued at $7,796,128 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $0.40 on Wednesday, reaching $180.55. 5,875,146 shares of the company’s stock were exchanged, compared to its average volume of 8,699,306. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $184.31. The company has a fifty day moving average of $168.62 and a 200-day moving average of $148.09. The company has a market capitalization of $201.49 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. Wells Fargo & Company increased their price target on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler upped their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $180.48.

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.