QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 60.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,496 shares of the wireless technology company’s stock after purchasing an additional 937 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in QUALCOMM were worth $424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Pine Haven Investment Counsel Inc raised its stake in shares of QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after purchasing an additional 50 shares in the last quarter. Buffington Mohr McNeal boosted its stake in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after acquiring an additional 53 shares during the period. TRUE Private Wealth Advisors grew its holdings in shares of QUALCOMM by 2.2% during the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC raised its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. increased its position in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.8 %

Shares of QUALCOMM stock traded down $2.87 on Wednesday, hitting $160.54. 1,925,442 shares of the company traded hands, compared to its average volume of 8,475,137. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market cap of $178.36 billion, a PE ratio of 17.86, a PEG ratio of 2.75 and a beta of 1.28. The company has a 50-day moving average price of $168.39 and a 200 day moving average price of $182.44.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on QCOM shares. UBS Group lifted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Citigroup reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Morgan Stanley lowered their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.92.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s 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 of the company’s stock, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 in the last three months. 0.08% of the stock is owned by 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.