QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,192 shares of the wireless technology company’s stock after buying an additional 1,667 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in QUALCOMM were worth $2,583,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wrapmanager Inc. grew its stake in QUALCOMM by 18.9% during the 3rd quarter. Wrapmanager Inc. now owns 3,261 shares of the wireless technology company’s stock worth $555,000 after purchasing an additional 519 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of QUALCOMM by 83.6% during the third quarter. Prospera Financial Services Inc now owns 34,235 shares of the wireless technology company’s stock worth $5,826,000 after buying an additional 15,593 shares in the last quarter. Smead Capital Management Inc. increased its stake in shares of QUALCOMM by 3.5% during the third quarter. Smead Capital Management Inc. now owns 687,507 shares of the wireless technology company’s stock worth $116,911,000 after buying an additional 23,188 shares during the period. Meeder Asset Management Inc. raised its holdings in QUALCOMM by 5.7% in the third quarter. Meeder Asset Management Inc. now owns 163,691 shares of the wireless technology company’s stock valued at $27,836,000 after acquiring an additional 8,788 shares in the last quarter. Finally, OneAscent Financial Services LLC purchased a new position in QUALCOMM in the third quarter worth approximately $422,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.92.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $164.50 on Tuesday. 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 company’s 50-day moving average price is $168.42 and its 200 day moving average price is $182.23. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The stock has a market cap of $182.76 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.70 and a beta of 1.28.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. 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.