Avestar Capital LLC Acquires 538 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Avestar Capital LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,868 shares of the wireless technology company’s stock after purchasing an additional 538 shares during the quarter. Avestar Capital LLC’s holdings in QUALCOMM were worth $2,018,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the third quarter valued at about $26,000. HWG Holdings LP purchased a new position in QUALCOMM during the second quarter valued at approximately $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM during the 2nd quarter worth approximately $32,000. Planning Capital Management Corp lifted its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Morgan Stanley lowered their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Price Performance

QCOM stock opened at $158.82 on Tuesday. The stock has a market capitalization of $176.45 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.64 and a beta of 1.28. The firm’s 50-day moving average price is $167.67 and its two-hundred day moving average price is $181.44. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is currently owned by company 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.