Cerity Partners LLC Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Cerity Partners LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 25.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 530,923 shares of the wireless technology company’s stock after purchasing an additional 106,561 shares during the quarter. Cerity Partners LLC’s holdings in QUALCOMM were worth $90,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter worth $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM in the 2nd quarter worth about $30,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter worth about $32,000. Planning Capital Management Corp increased its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Finally, Aspect Partners LLC raised its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock valued at $2,911,306 over the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $156.79 on Friday. 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 50 day moving average price of $167.82 and a 200-day moving average price of $181.57. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The firm has a market capitalization of $174.19 billion, a PE ratio of 17.44, a P/E/G ratio of 2.61 and a beta of 1.28.

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 paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Wednesday. Rosenblatt Securities raised their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $210.15.

Read Our Latest Analysis on QCOM

About QUALCOMM

(Free Report)

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.

Further Reading

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