Principal Street Partners LLC Buys 1,103 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Principal Street Partners LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 91.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,303 shares of the wireless technology company’s stock after purchasing an additional 1,103 shares during the quarter. Principal Street Partners LLC’s holdings in QUALCOMM were worth $392,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC grew its position in shares of QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after acquiring an additional 50,438 shares during the period. Icon Wealth Advisors LLC grew its holdings in QUALCOMM by 123.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after acquiring an additional 18,315 shares in the last quarter. Aljian Capital Management LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $1,820,000. Finally, Czech National Bank raised its holdings in shares of QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after purchasing an additional 13,888 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Sanford C. Bernstein upped their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Susquehanna cut their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Finally, Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Stock Down 1.2 %

Shares of QCOM opened at $156.93 on Wednesday. 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 firm has a market cap of $174.35 billion, a P/E ratio of 17.46, a PEG ratio of 2.67 and a beta of 1.28. The stock’s 50 day moving average is $167.43 and its two-hundred day moving average is $181.26. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. 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 presently 37.82%.

Insider Buying and Selling

In other news, 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 sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is owned by corporate insiders.

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.