King Wealth Management Group Acquires 162 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

King Wealth Management Group lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,933 shares of the wireless technology company’s stock after purchasing an additional 162 shares during the period. King Wealth Management Group’s holdings in QUALCOMM were worth $329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of QUALCOMM by 0.9% during the second 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 during the last quarter. Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% during 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 buying an additional 1,741,432 shares in the last quarter. Matrix Capital Management Company LP bought a new position in QUALCOMM in the 1st quarter valued at $1,171,516,000. Dimensional Fund Advisors LP increased its stake in shares of QUALCOMM by 3.7% in 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 buying an additional 173,673 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of QUALCOMM by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,289,764 shares of the wireless technology company’s stock worth $559,424,000 after acquiring an additional 49,047 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred 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 owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, 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. Over the last three months, insiders have sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

QCOM opened at $163.97 on Friday. 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 business’s 50-day simple moving average is $168.29 and its 200 day simple moving average is $182.29. The firm has a market capitalization of $182.17 billion, a PE ratio of 18.24, a PEG ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63.

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 issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s payout ratio is 37.82%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Rosenblatt Securities lifted their price objective on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Evercore ISI upped their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.