6,842 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Shum Financial Group Inc.

Shum Financial Group Inc. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,842 shares of the wireless technology company’s stock, valued at approximately $1,135,000.

Other large investors have also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in QUALCOMM in the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new position in QUALCOMM in the second quarter worth $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the second quarter worth $32,000. Planning Capital Management Corp increased its stake in 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 acquiring an additional 114 shares during the last quarter. Finally, Aspect Partners LLC raised its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QCOM. Morgan Stanley lowered their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Citigroup decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, Rosenblatt Securities raised their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Stock Up 1.3 %

QCOM stock traded up $2.03 during trading on Tuesday, hitting $158.82. 9,189,843 shares of the stock traded hands, compared to its average volume of 9,020,819. 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 stock has a market cap of $176.45 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The firm’s 50 day moving average is $167.67 and its two-hundred day moving average is $181.44.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the 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 transaction, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is owned by corporate insiders.

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.