River Street Advisors LLC Has $1.34 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

River Street Advisors LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,868 shares of the wireless technology company’s stock after buying an additional 373 shares during the quarter. River Street Advisors LLC’s holdings in QUALCOMM were worth $1,338,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Leelyn Smith LLC bought a new position in shares of QUALCOMM in the 1st quarter valued at $208,000. Nicolet Advisory Services LLC bought a new position in QUALCOMM in the first quarter valued at about $222,000. Intech Investment Management LLC lifted its holdings in shares of QUALCOMM by 49.3% in the first quarter. Intech Investment Management LLC now owns 61,797 shares of the wireless technology company’s stock worth $10,462,000 after acquiring an additional 20,412 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of QUALCOMM by 468.0% in the 1st quarter. Acadian Asset Management LLC now owns 257,374 shares of the wireless technology company’s stock valued at $43,564,000 after purchasing an additional 212,064 shares in the last quarter. Finally, Blue Barn Wealth LLC grew its holdings in shares of QUALCOMM by 54.5% during the 1st quarter. Blue Barn Wealth LLC now owns 5,727 shares of the wireless technology company’s stock valued at $970,000 after purchasing an additional 2,021 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on QCOM shares. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Loop Capital assumed coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Robert W. Baird boosted their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Susquehanna dropped their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. 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 data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $210.92.

QUALCOMM Stock Down 2.1 %

QCOM stock traded down $3.47 during midday trading on Friday, reaching $160.50. 9,737,033 shares of the company’s stock traded hands, compared to its average volume of 9,021,084. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $168.35 and its 200-day moving average price is $182.10. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The company has a market cap of $178.32 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Activity at QUALCOMM

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

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.