Townsquare Capital LLC Buys 16,054 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Townsquare Capital LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,650 shares of the wireless technology company’s stock after acquiring an additional 16,054 shares during the quarter. Townsquare Capital LLC’s holdings in QUALCOMM were worth $25,788,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Coppell Advisory Solutions Corp. bought a new position in QUALCOMM during the 1st quarter worth $225,000. WealthPlan Investment Management LLC acquired a new stake in QUALCOMM in the 1st quarter worth about $289,000. New Covenant Trust Company N.A. bought a new stake in QUALCOMM in the 1st quarter valued at about $134,000. Wahed Invest LLC grew its position in shares of QUALCOMM by 15.3% during the 1st quarter. Wahed Invest LLC now owns 21,965 shares of the wireless technology company’s stock worth $3,719,000 after purchasing an additional 2,909 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of QUALCOMM during the first quarter worth approximately $44,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Evercore ISI increased their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.15.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated 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 owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,450 shares of company stock worth $2,911,306. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.2 %

NASDAQ QCOM opened at $156.93 on Wednesday. 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 firm has a market capitalization of $174.35 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. The business’s 50-day moving average price is $167.43 and its two-hundred day moving average price is $181.26.

QUALCOMM Dividend Announcement

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