QUALCOMM Incorporated (NASDAQ:QCOM) is Truvestments Capital LLC’s 7th Largest Position

Truvestments Capital LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,991 shares of the wireless technology company’s stock after acquiring an additional 1,380 shares during the quarter. QUALCOMM makes up 1.5% of Truvestments Capital LLC’s investment portfolio, making the stock its 7th largest position. Truvestments Capital LLC’s holdings in QUALCOMM were worth $5,780,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the third quarter worth approximately $26,000. HWG Holdings LP acquired a new stake in QUALCOMM during the 2nd quarter worth $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the second quarter worth $32,000. Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC lifted its stake in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, 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 this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock valued at $2,911,306 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $157.89 on Monday. The firm has a market capitalization of $175.42 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week 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 stock’s 50-day simple moving average is $167.82 and its 200-day simple moving average is $181.59.

QUALCOMM Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. Rosenblatt Securities upped their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Evercore ISI lifted their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Sanford C. Bernstein lifted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

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.