Benjamin Edwards Inc. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Benjamin Edwards Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 957.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 292,575 shares of the wireless technology company’s stock after buying an additional 264,909 shares during the quarter. QUALCOMM accounts for approximately 0.7% of Benjamin Edwards Inc.’s holdings, making the stock its 25th biggest position. Benjamin Edwards Inc.’s holdings in QUALCOMM were worth $49,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the third quarter valued at $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Planning Capital Management Corp boosted its holdings 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 worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC grew its position in QUALCOMM by 71.8% during the second 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 during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $210.15.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Up 1.4 %

Shares of NASDAQ:QCOM opened at $158.53 on Monday. The firm has a market capitalization of $176.13 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. The business has a 50 day simple moving average of $166.64 and a two-hundred day simple moving average of $180.58. QUALCOMM Incorporated has a 1 year low of $127.49 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Announces Dividend

The firm also recently announced 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 is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.