Silicon Valley Capital Partners Makes New $85,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Silicon Valley Capital Partners acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 503 shares of the wireless technology company’s stock, valued at approximately $85,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Leelyn Smith LLC acquired a new stake in QUALCOMM during the first quarter worth about $208,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of QUALCOMM by 1.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 21,150 shares of the wireless technology company’s stock valued at $3,581,000 after acquiring an additional 267 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in QUALCOMM by 40.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,725 shares of the wireless technology company’s stock valued at $800,000 after purchasing an additional 1,349 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of QUALCOMM by 3.7% in the first quarter. Proficio Capital Partners LLC now owns 4,062 shares of the wireless technology company’s stock worth $688,000 after buying an additional 146 shares in the last quarter. Finally, CapWealth Advisors LLC purchased a new stake in shares of QUALCOMM in the first quarter valued at approximately $212,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, 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 transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,245 shares of company stock worth $2,395,407. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Susquehanna reduced their target price on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Piper Sandler restated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $207.92.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $163.87 on Monday. The business has a 50-day simple moving average of $168.77 and a 200-day simple moving average of $182.12. The company has a market cap of $182.55 billion, a PE ratio of 21.41, a P/E/G ratio of 1.63 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $118.38 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

About QUALCOMM

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.