Global Wealth Management Investment Advisory Inc. Has $3.03 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Global Wealth Management Investment Advisory Inc. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 28.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,823 shares of the wireless technology company’s stock after selling 7,200 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in QUALCOMM were worth $3,031,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $26,000. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at approximately $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC grew its holdings in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the period. Finally, Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $36,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 0.6 %

NASDAQ:QCOM traded up $0.96 during trading hours on Tuesday, reaching $166.14. The company had a trading volume of 305,639 shares, compared to its average volume of 8,900,285. QUALCOMM Incorporated has a twelve month low of $118.38 and a twelve month high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $185.08 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 1.66 and a beta of 1.28. The business’s 50-day simple moving average is $168.69 and its two-hundred day simple moving average is $182.14.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

Insiders Place Their Bets

In related news, 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 value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 stock was 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 owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,146 shares of company stock worth $2,709,186. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on QCOM. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday, August 2nd. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 17th. Wells Fargo & Company increased their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $207.29.

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.