Valley Wealth Managers Inc. Acquires 2,522 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Valley Wealth Managers Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 30,674 shares of the wireless technology company’s stock after buying an additional 2,522 shares during the period. Valley Wealth Managers Inc.’s holdings in QUALCOMM were worth $5,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Pine Haven Investment Counsel Inc boosted its position in shares of QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares during the period. Buffington Mohr McNeal boosted its holdings in shares of QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after purchasing an additional 53 shares in the last quarter. TRUE Private Wealth Advisors increased its stake in shares of QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC raised its holdings in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its position in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 0.0 %

QCOM stock traded down $0.02 during trading on Friday, hitting $163.95. 854,656 shares of the stock traded hands, compared to its average volume of 8,981,148. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The firm’s 50 day moving average is $168.30 and its two-hundred day moving average is $182.16. The stock has a market cap of $182.15 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Susquehanna lowered their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research note on Monday, October 21st. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.92.

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.