Kingsview Wealth Management LLC Has $8.74 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Kingsview Wealth Management LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 21.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,369 shares of the wireless technology company’s stock after purchasing an additional 8,922 shares during the quarter. Kingsview Wealth Management LLC’s holdings in QUALCOMM were worth $8,735,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its stake in QUALCOMM by 13.2% in the 1st quarter. 1832 Asset Management L.P. now owns 14,862 shares of the wireless technology company’s stock valued at $2,516,000 after acquiring an additional 1,729 shares in the last quarter. Kestra Advisory Services LLC increased its stake in QUALCOMM by 8.0% in the 1st quarter. Kestra Advisory Services LLC now owns 109,796 shares of the wireless technology company’s stock valued at $18,588,000 after buying an additional 8,097 shares during the last quarter. Bellevue Group AG lifted its position in QUALCOMM by 49.0% during the 1st quarter. Bellevue Group AG now owns 517 shares of the wireless technology company’s stock worth $88,000 after buying an additional 170 shares in the last quarter. Ceeto Capital Group LLC boosted its stake in shares of QUALCOMM by 40.4% during the 1st quarter. Ceeto Capital Group LLC now owns 8,000 shares of the wireless technology company’s stock worth $1,354,000 after buying an additional 2,300 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its position in QUALCOMM by 7.5% during the first quarter. Mount Yale Investment Advisors LLC now owns 7,537 shares of the wireless technology company’s stock valued at $1,276,000 after purchasing an additional 525 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.9 %

Shares of NASDAQ:QCOM opened at $156.79 on Friday. The stock has a market cap of $174.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.61 and a beta of 1.28. The business’s 50 day moving average is $167.82 and its 200 day moving average is $181.57. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s payout ratio is presently 37.82%.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value 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 approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research reports. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Rosenblatt Securities upped their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.15.

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.