Daiwa Securities Group Inc. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Daiwa Securities Group Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,411 shares of the wireless technology company’s stock after buying an additional 2,758 shares during the period. Daiwa Securities Group Inc.’s holdings in QUALCOMM were worth $47,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Marco Investment Management LLC boosted its position in shares of QUALCOMM by 1.4% in the third quarter. Marco Investment Management LLC now owns 196,553 shares of the wireless technology company’s stock worth $33,424,000 after buying an additional 2,692 shares during the period. Hartford Funds Management Co LLC boosted its position in shares of QUALCOMM by 2.1% in the third quarter. Hartford Funds Management Co LLC now owns 5,717 shares of the wireless technology company’s stock worth $972,000 after buying an additional 117 shares during the period. Summit Trail Advisors LLC boosted its holdings in QUALCOMM by 14.8% in the third quarter. Summit Trail Advisors LLC now owns 14,787 shares of the wireless technology company’s stock valued at $2,514,000 after purchasing an additional 1,909 shares during the last quarter. SevenBridge Financial Group LLC boosted its holdings in QUALCOMM by 5.5% in the third quarter. SevenBridge Financial Group LLC now owns 11,133 shares of the wireless technology company’s stock valued at $1,874,000 after purchasing an additional 584 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in QUALCOMM by 17.8% in the third quarter. Centaurus Financial Inc. now owns 9,784 shares of the wireless technology company’s stock valued at $1,664,000 after purchasing an additional 1,477 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, 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 sale, the chief technology officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock valued at $2,911,306 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.9 %

Shares of NASDAQ QCOM opened at $156.79 on Friday. The company has a market cap of $174.19 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.61 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-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 stock’s 50 day simple moving average is $167.82 and its 200 day simple moving average is $181.58.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on QCOM. Susquehanna reduced their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley reduced 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. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Sanford C. Bernstein increased their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

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.