EP Wealth Advisors LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

EP Wealth Advisors LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,961 shares of the wireless technology company’s stock after buying an additional 9,562 shares during the quarter. EP Wealth Advisors LLC’s holdings in QUALCOMM were worth $16,658,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM in the third quarter worth approximately $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the 2nd quarter valued at $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the second quarter valued at $32,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, Aspect Partners LLC increased its position in 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. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent research reports. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Price Performance

Shares of QCOM stock opened at $159.51 on Friday. The stock’s 50-day moving average is $165.93 and its 200 day moving average is $179.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market cap of $177.22 billion, a P/E ratio of 17.74, a PEG ratio of 2.73 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $130.39 and a 1-year high of $230.63.

QUALCOMM Announces Dividend

The company also recently declared 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 2.13%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,450 shares of company stock valued at $3,395,926 in the last three months. 0.08% of the stock is owned by corporate insiders.

About QUALCOMM

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.