Valley Wealth Managers Inc. Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Valley Wealth Managers Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 1.2% in the third quarter, Holdings Channel reports. The firm owned 33,414 shares of the wireless technology company’s stock after selling 402 shares during the quarter. Valley Wealth Managers Inc.’s holdings in QUALCOMM were worth $3,711,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fairfield Bush & CO. lifted its holdings in QUALCOMM by 1.3% in the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after acquiring an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in QUALCOMM by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after acquiring an additional 245,335 shares during the last quarter. Merit Financial Group LLC lifted its holdings in QUALCOMM by 25.2% in the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after acquiring an additional 555 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in QUALCOMM by 23.8% in the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after acquiring an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in QUALCOMM by 30.4% in the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after acquiring an additional 79,827 shares during the last quarter. 71.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other QUALCOMM news, CAO Neil Martin sold 3,098 shares of QUALCOMM stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $402,740.00. Following the transaction, the chief accounting officer now directly owns 247 shares in the company, valued at approximately $32,110. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,198 shares of company stock worth $1,752,690. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ QCOM opened at $153.10 on Tuesday. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $157.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a market capitalization of $170.86 billion, a PE ratio of 22.19, a P/E/G ratio of 2.06 and a beta of 1.42. The company’s 50 day simple moving average is $142.98 and its 200 day simple moving average is $125.39.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th will be given a $0.80 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 2.09%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on QCOM shares. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. Susquehanna lifted their price target on QUALCOMM from $130.00 to $140.00 and gave the company a “positive” rating in a report on Thursday, November 2nd. Mizuho lifted their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Barclays lifted their price target on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.71.

Get Our Latest Stock Analysis on QCOM

About QUALCOMM

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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