Strait & Sound Wealth Management LLC Acquires 3,079 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Strait & Sound Wealth Management LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 130.8% in the third quarter, Holdings Channel reports. The firm owned 5,433 shares of the wireless technology company’s stock after acquiring an additional 3,079 shares during the period. Strait & Sound Wealth Management LLC’s holdings in QUALCOMM were worth $924,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lantz Financial LLC purchased a new stake in QUALCOMM in the second quarter worth about $234,000. Friedenthal Financial bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $51,000. ORG Partners LLC lifted its position in shares of QUALCOMM by 402,400.0% in the 2nd quarter. ORG Partners LLC now owns 12,075 shares of the wireless technology company’s stock worth $2,415,000 after purchasing an additional 12,072 shares during the period. Key Client Fiduciary Advisors LLC boosted its stake in shares of QUALCOMM by 14.8% during the second quarter. Key Client Fiduciary Advisors LLC now owns 1,622 shares of the wireless technology company’s stock valued at $323,000 after purchasing an additional 209 shares in the last quarter. Finally, PGGM Investments increased its holdings in QUALCOMM by 33.9% during the second quarter. PGGM Investments now owns 75,372 shares of the wireless technology company’s stock valued at $15,013,000 after buying an additional 19,093 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QCOM. Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.00.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, 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 20,450 shares of company stock worth $3,395,926. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM opened at $160.74 on Tuesday. The business’s 50-day moving average is $165.75 and its two-hundred day moving average is $179.03. The company has a market capitalization of $178.58 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.67 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $134.07 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Dividend Announcement

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 issued a dividend of $0.85 per share. 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 dividend payout ratio (DPR) is 37.82%.

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.