Summit Trail Advisors LLC Purchases 1,909 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Summit Trail Advisors LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,787 shares of the wireless technology company’s stock after buying an additional 1,909 shares during the period. Summit Trail Advisors LLC’s holdings in QUALCOMM were worth $2,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Legal & General Group Plc raised its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Van ECK Associates Corp raised its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in QUALCOMM by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock worth $1,129,640,000 after buying an additional 52,897 shares during the period. Dimensional Fund Advisors LP boosted its position in QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after acquiring an additional 173,673 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of QUALCOMM by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock valued at $563,274,000 after acquiring an additional 8,300 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on 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 represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $156.79 on Monday. 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 Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The firm has a fifty day moving average price of $167.82 and a two-hundred day moving average price of $181.59. The company has a market cap of $174.19 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently announced 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 dividend on an annualized basis 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 currently 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.