Klingman & Associates LLC Buys 315 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Klingman & Associates LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 21.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,790 shares of the wireless technology company’s stock after buying an additional 315 shares during the quarter. Klingman & Associates LLC’s holdings in QUALCOMM were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Wealth Quarterback LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $526,000. Assetmark Inc. increased its stake in QUALCOMM by 3.7% in the 3rd quarter. Assetmark Inc. now owns 273,201 shares of the wireless technology company’s stock worth $46,458,000 after buying an additional 9,701 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in QUALCOMM by 1.6% during the third quarter. Verdence Capital Advisors LLC now owns 24,252 shares of the wireless technology company’s stock valued at $4,124,000 after acquiring an additional 387 shares during the period. Beta Wealth Group Inc. lifted its position in shares of QUALCOMM by 11.9% in the third quarter. Beta Wealth Group Inc. now owns 9,278 shares of the wireless technology company’s stock valued at $1,578,000 after acquiring an additional 989 shares in the last quarter. Finally, Carson Advisory Inc. boosted its stake in shares of QUALCOMM by 3.9% in the third quarter. Carson Advisory Inc. now owns 2,795 shares of the wireless technology company’s stock worth $475,000 after acquiring an additional 106 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Morgan Stanley cut their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Susquehanna cut their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.16.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $170.91 on Friday. The company’s 50 day moving average is $168.53 and its 200 day moving average is $182.15. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $190.39 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.76 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $119.85 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 39.70%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 8.62 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced 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 1.99%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.