KCM Investment Advisors LLC Has $7.33 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

KCM Investment Advisors LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,105 shares of the wireless technology company’s stock after purchasing an additional 1,525 shares during the quarter. KCM Investment Advisors LLC’s holdings in QUALCOMM were worth $7,330,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM during the first quarter worth $1,171,516,000. Massachusetts Financial Services Co. MA increased its position in shares of QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares during the period. International Assets Investment Management LLC increased its position in shares of QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp grew its position in QUALCOMM by 30.2% in the third 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 acquiring an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S bought a new position in QUALCOMM in the third quarter valued at about $229,078,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Robert W. Baird lifted their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Susquehanna cut their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.92.

QUALCOMM Stock Down 0.6 %

QUALCOMM stock traded down $0.91 during trading on Friday, hitting $163.06. 1,137,659 shares of the company were exchanged, compared to its average volume of 8,982,423. The business’s 50 day moving average is $168.30 and its 200 day moving average is $182.16. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The company has a market capitalization of $181.16 billion, a P/E ratio of 18.13, a PEG ratio of 2.70 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued 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 yield of 2.09%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now 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. Over the last 90 days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by corporate insiders.

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.