FORA Capital LLC Takes $11.62 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

FORA Capital LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 68,343 shares of the wireless technology company’s stock, valued at approximately $11,622,000. QUALCOMM accounts for approximately 1.4% of FORA Capital LLC’s holdings, making the stock its 9th biggest position.

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

QUALCOMM Price Performance

QCOM stock traded up $0.48 during mid-day trading on Wednesday, hitting $157.41. The stock had a trading volume of 492,332 shares, compared to its average volume of 8,985,686. The firm has a fifty day simple moving average of $167.43 and a 200 day simple moving average of $181.26. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $174.88 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.67 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.16%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock worth $2,911,306 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.15.

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.