Qualcomm Incorporated $QCOM Position Increased by Welch Group LLC

Welch Group LLC grew its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 419,312 shares of the wireless technology company’s stock after acquiring an additional 6,200 shares during the quarter. Qualcomm comprises about 2.6% of Welch Group LLC’s investment portfolio, making the stock its 10th largest holding. Welch Group LLC’s holdings in Qualcomm were worth $77,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Your Advocates Ltd. LLP acquired a new position in shares of Qualcomm in the 1st quarter valued at $26,000. ABS Investment Management LLC acquired a new position in Qualcomm during the second quarter valued at approximately $34,000. ABS Direct Equity Fund LLC acquired a new position in Qualcomm during the 2nd quarter worth $34,000. Burk Holdings LLC increased its position in Qualcomm by 191.7% in the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after buying an additional 138 shares during the period. Finally, Harborfront Financial Group LLC acquired a new position in shares of Qualcomm during the second quarter valued at about $41,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their target price on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Robert W. Baird set a $400.00 target price on shares of Qualcomm in a research report on Thursday, July 30th. Citigroup cut their price target on Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Oppenheimer set a $200.00 price target on shares of Qualcomm in a research report on Monday, July 27th. Finally, Arete Research upgraded Qualcomm to a “strong-buy” rating in a research report on Friday, October 16th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $205.83.

Qualcomm Stock Performance

Shares of Qualcomm stock opened at $164.79 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market cap of $175.97 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 3.71 and a beta of 1.70. The company has a 50 day moving average of $177.83 and a 200-day moving average of $169.44. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a $0.92 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. Qualcomm’s dividend payout ratio (DPR) is currently 42.59%.

Insider Transactions at Qualcomm

In other news, EVP Ann Chaplin sold 1,827 shares of Qualcomm stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $174.75, for a total transaction of $319,268.25. Following the completion of the transaction, the executive vice president directly owned 25,770 shares in the company, valued at $4,503,307.50. This trade represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano Amon sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer owned 177,568 shares in the company, valued at $35,513,600. The trade was a 5.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,258 shares of company stock valued at $5,727,616 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.