Blackhawk Capital Partners LLC. Acquires New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Blackhawk Capital Partners LLC. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,227 shares of the wireless technology company’s stock, valued at approximately $1,569,000.

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after buying an additional 3,014,302 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of QUALCOMM by 0.9% in the third quarter. Thompson Siegel & Walmsley LLC now owns 17,112 shares of the wireless technology company’s stock worth $2,910,000 after acquiring an additional 150 shares during the period. LPL Financial LLC raised its holdings in shares of QUALCOMM by 10.6% during the third quarter. LPL Financial LLC now owns 1,286,536 shares of the wireless technology company’s stock valued at $218,775,000 after purchasing an additional 123,215 shares during the last quarter. Cypress Capital Group lifted its position in QUALCOMM by 1.4% during the third quarter. Cypress Capital Group now owns 22,312 shares of the wireless technology company’s stock valued at $3,794,000 after purchasing an additional 313 shares during the period. Finally, Landscape Capital Management L.L.C. grew its position in QUALCOMM by 54.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 20,273 shares of the wireless technology company’s stock worth $3,447,000 after purchasing an additional 7,133 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Piper Sandler restated an “overweight” rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.15.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % 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 three months. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Down 6.3 %

Shares of NASDAQ QCOM opened at $154.27 on Thursday. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business’s 50 day moving average is $168.23 and its two-hundred day moving average is $181.93. The stock has a market capitalization of $171.39 billion, a P/E ratio of 17.16, a PEG ratio of 2.77 and a beta of 1.28.

QUALCOMM Announces Dividend

The business also recently declared 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 of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.20%. QUALCOMM’s payout ratio is presently 37.82%.

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.