Copley Financial Group Inc. Purchases New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Copley Financial Group Inc. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 831 shares of the wireless technology company’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Wedge Capital Management L L P NC boosted its holdings in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares during the last quarter. Icon Wealth Advisors LLC boosted its position in shares of QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after purchasing an additional 18,315 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of QUALCOMM by 39.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after buying an additional 50,438 shares during the period. Aljian Capital Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at $1,820,000. Finally, Captrust Financial Advisors raised its stake in QUALCOMM by 4.6% during the 3rd quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock worth $112,969,000 after buying an additional 29,287 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Down 0.1 %

QUALCOMM stock traded down $0.22 during trading hours on Friday, hitting $158.02. The company had a trading volume of 1,330,532 shares, compared to its average volume of 8,927,563. The firm has a market cap of $175.56 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a 50-day moving average price of $165.18 and a two-hundred day moving average price of $178.37. QUALCOMM Incorporated has a 1 year low of $134.94 and a 1 year high of $230.63. 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 Announces Dividend

The firm 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,540 shares of company stock valued at $6,300,999. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QCOM shares. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Melius Research assumed coverage on QUALCOMM in a report on Monday. They set a “hold” rating and a $180.00 target price on the stock. UBS Group increased their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

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.