Adero Partners LLC Acquires 86 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Adero Partners LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,811 shares of the wireless technology company’s stock after acquiring an additional 86 shares during the quarter. Adero Partners LLC’s holdings in QUALCOMM were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Pine Haven Investment Counsel Inc grew its position in QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares during the last quarter. Buffington Mohr McNeal grew its position in QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after acquiring an additional 53 shares during the last quarter. TRUE Private Wealth Advisors grew its position in QUALCOMM by 2.2% in the 2nd 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 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 last quarter. Finally, McClarren Financial Advisors Inc. grew its position 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 buying an additional 60 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $160.50 on Friday. 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 50-day moving average price of $168.35 and a two-hundred day moving average price of $182.21. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The company has a market capitalization of $178.32 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28.

QUALCOMM Announces Dividend

The company 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. 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 (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 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 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on QCOM shares. Morgan Stanley dropped their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Rosenblatt Securities increased their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Robert W. Baird increased their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.92.

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.