Rehmann Capital Advisory Group Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Rehmann Capital Advisory Group boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,249 shares of the wireless technology company’s stock after acquiring an additional 664 shares during the period. Rehmann Capital Advisory Group’s holdings in QUALCOMM were worth $1,744,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QCOM. TD Private Client Wealth LLC increased its stake in shares of QUALCOMM by 1.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 9,884 shares of the wireless technology company’s stock valued at $1,681,000 after acquiring an additional 100 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in QUALCOMM by 17.6% in the third quarter. Coldstream Capital Management Inc. now owns 46,441 shares of the wireless technology company’s stock valued at $7,832,000 after purchasing an additional 6,948 shares during the period. Strait & Sound Wealth Management LLC grew its holdings in QUALCOMM by 130.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 5,433 shares of the wireless technology company’s stock valued at $924,000 after purchasing an additional 3,079 shares during the period. Orion Capital Management LLC increased its position in QUALCOMM by 1.1% during the third quarter. Orion Capital Management LLC now owns 11,484 shares of the wireless technology company’s stock worth $1,953,000 after purchasing an additional 120 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,540 shares of company stock valued at $6,300,999 in the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Citigroup cut their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Melius initiated coverage on QUALCOMM in a report on Monday. They set a “hold” rating and a $180.00 target price for the company. Finally, Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

QUALCOMM Stock Up 2.2 %

Shares of QUALCOMM stock opened at $159.83 on Thursday. The stock has a market capitalization of $177.57 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.67 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $134.94 and a twelve month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $165.56 and its 200-day simple moving average is $178.65.

QUALCOMM Dividend Announcement

The company also recently declared 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 2.13%. QUALCOMM’s dividend payout ratio is currently 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.