Planning Capital Management Corp Has $34,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Planning Capital Management Corp increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 137.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197 shares of the wireless technology company’s stock after purchasing an additional 114 shares during the quarter. Planning Capital Management Corp’s holdings in QUALCOMM were worth $34,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at approximately $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter worth about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC raised its holdings in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in QUALCOMM during the third quarter valued at approximately $36,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 2.2 %

Shares of NASDAQ:QCOM opened at $163.97 on Friday. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market cap of $182.17 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The firm has a 50 day simple moving average of $168.29 and a 200 day simple moving average of $182.29.

QUALCOMM Dividend Announcement

The business 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 $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 in the last quarter. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Finally, Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Company 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.