Kestra Investment Management LLC Buys Shares of 4,555 QUALCOMM Incorporated (NASDAQ:QCOM)

Kestra Investment Management LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,555 shares of the wireless technology company’s stock, valued at approximately $775,000.

Several other institutional investors have also modified their holdings of the company. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter worth about $30,000. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth approximately $26,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC increased its position in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Finally, Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 approximately $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock valued at $2,911,306 over the last three months. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley lowered their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Price Performance

QCOM opened at $158.53 on Monday. QUALCOMM Incorporated has a 12-month low of $127.49 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $176.13 billion, a P/E ratio of 17.63, a PEG ratio of 2.67 and a beta of 1.28. The stock has a fifty day moving average of $166.64 and a 200-day moving average of $180.58.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 2.14%. QUALCOMM’s dividend payout ratio is 37.82%.

QUALCOMM 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.