Oppenheimer Asset Management Inc. Purchases 51,396 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Oppenheimer Asset Management Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 124.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,544 shares of the wireless technology company’s stock after acquiring an additional 51,396 shares during the period. Oppenheimer Asset Management Inc.’s holdings in QUALCOMM were worth $15,737,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. HWG Holdings LP bought a new stake in shares of QUALCOMM in the second quarter valued at approximately $30,000. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the third quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. boosted its stake in shares of QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the period. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QCOM. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $160.42 on Thursday. The company has a market capitalization of $178.23 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.75 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The stock has a fifty day simple moving average of $168.39 and a 200 day simple moving average of $182.44. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. QUALCOMM’s payout ratio is 37.82%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the 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 in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 over the last three months. Company insiders own 0.08% of the company’s stock.

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.