Highline Wealth Partners LLC Invests $1.73 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Highline Wealth Partners LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,158 shares of the wireless technology company’s stock, valued at approximately $1,727,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. AMI Asset Management Corp boosted its holdings in QUALCOMM by 2,620.0% during the 3rd quarter. AMI Asset Management Corp now owns 238,243 shares of the wireless technology company’s stock valued at $40,513,000 after acquiring an additional 229,484 shares during the period. Deltec Asset Management LLC bought a new stake in shares of QUALCOMM during the third quarter worth $1,700,000. Fidelis Capital Partners LLC boosted its stake in shares of QUALCOMM by 6.3% during the third quarter. Fidelis Capital Partners LLC now owns 20,201 shares of the wireless technology company’s stock valued at $3,365,000 after purchasing an additional 1,196 shares during the period. Strategic Blueprint LLC boosted its stake in shares of QUALCOMM by 14.8% during the third quarter. Strategic Blueprint LLC now owns 5,032 shares of the wireless technology company’s stock valued at $856,000 after purchasing an additional 647 shares during the period. Finally, MONECO Advisors LLC grew its holdings in shares of QUALCOMM by 1.8% in the third quarter. MONECO Advisors LLC now owns 3,883 shares of the wireless technology company’s stock worth $660,000 after purchasing an additional 68 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QCOM has been the subject of several research reports. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Cantor Fitzgerald lowered their target price on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $207.92.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred 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 directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 3.0 %

QUALCOMM stock opened at $170.79 on Wednesday. The business has a fifty day moving average price of $169.19 and a 200-day moving average price of $182.17. QUALCOMM Incorporated has a 1-year low of $106.69 and a 1-year high of $230.63. The stock has a market capitalization of $190.26 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

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.