B. Riley Wealth Advisors Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,982 shares of the wireless technology company's stock after selling 4,963 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in QUALCOMM were worth $7,637,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after purchasing an additional 870,814 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Legal & General Group Plc lifted its stake in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock valued at $1,999,114,000 after acquiring an additional 86,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock valued at $1,421,037,000 after acquiring an additional 498,284 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. 74.35% of the stock is owned by institutional investors.
Several research firms recently issued reports on QCOM. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. UBS Group lifted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, November 20th. Finally, Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average price target of $208.00.
Get Our Latest Stock Analysis on QCOM
QCOM opened at $158.53 on Friday. The business's 50-day simple moving average is $164.97 and its 200-day simple moving average is $178.01. The company has a market cap of $176.13 billion, a P/E ratio of 17.63, a PEG ratio of 2.68 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $134.94 and a one 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.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 2.14%. QUALCOMM's dividend payout ratio is presently 37.82%.
In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on 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 in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,540 shares of company stock valued at $6,300,999 over the last ninety days. Insiders own 0.08% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider QUALCOMM, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and QUALCOMM wasn't on the list.
While QUALCOMM currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.