Icon Wealth Advisors LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Icon Wealth Advisors LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the third quarter, Holdings Channel reports. The institutional investor owned 15,123 shares of the wireless technology company’s stock after acquiring an additional 252 shares during the quarter. Icon Wealth Advisors LLC’s holdings in QUALCOMM were worth $2,572,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Pine Haven Investment Counsel Inc boosted its stake 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 worth $410,000 after purchasing an additional 50 shares during the period. Buffington Mohr McNeal boosted its stake in QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after purchasing an additional 53 shares during the period. TRUE Private Wealth Advisors boosted its stake 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 worth $525,000 after purchasing an additional 57 shares during the period. Macroview Investment Management LLC boosted its stake in QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. boosted its stake in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated 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 $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock worth $2,911,306 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

QCOM has been the topic of several recent analyst reports. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Rosenblatt Securities raised their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Evercore ISI raised their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Price Performance

Shares of QCOM stock opened at $156.40 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. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The firm has a market cap of $173.76 billion, a P/E ratio of 17.40, a P/E/G ratio of 2.63 and a beta of 1.28. The business’s 50 day moving average price is $166.85 and its 200-day moving average price is $180.92.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given 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 dividend yield of 2.17%. QUALCOMM’s dividend 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.