Centaurus Financial Inc. Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Centaurus Financial Inc. increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,784 shares of the wireless technology company’s stock after purchasing an additional 1,477 shares during the quarter. Centaurus Financial Inc.’s holdings in QUALCOMM were worth $1,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Wedge Capital Management L L P NC raised its stake in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after buying an additional 50,438 shares in the last quarter. Icon Wealth Advisors LLC lifted its stake in shares of QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after buying an additional 18,315 shares during the period. Aljian Capital Management LLC purchased a new position in shares of QUALCOMM during the third quarter valued at approximately $1,820,000. Finally, Czech National Bank grew its stake in QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after acquiring an additional 13,888 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on 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 directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,450 shares of company stock valued at $2,911,306. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QCOM. Barclays increased their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. Finally, Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Stock Performance

QUALCOMM stock opened at $156.79 on Monday. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. The firm’s fifty day moving average price is $167.82 and its 200 day moving average price is $181.59.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.