LPL Financial LLC Buys 123,215 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

LPL Financial LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,286,536 shares of the wireless technology company’s stock after acquiring an additional 123,215 shares during the quarter. LPL Financial LLC’s holdings in QUALCOMM were worth $218,775,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. International Assets Investment Management LLC lifted its stake in shares of QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp lifted its stake in shares of QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Maj Invest Holding A S bought a new stake in QUALCOMM during the 3rd quarter worth approximately $229,078,000. Finally, ProShare Advisors LLC raised its position in shares of QUALCOMM by 86.7% during the second quarter. ProShare Advisors LLC now owns 2,739,106 shares of the wireless technology company’s stock valued at $545,575,000 after buying an additional 1,272,191 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on QCOM. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. DZ Bank upgraded shares of 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. Deutsche Bank Aktiengesellschaft boosted their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. One 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock worth $2,911,306 in the last three months. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $155.42 on Friday. The stock has a market cap of $172.67 billion, a PE ratio of 17.29, a P/E/G ratio of 2.77 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The stock has a fifty day simple moving average of $168.04 and a 200-day simple moving average of $181.75.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 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.