Park Avenue Securities LLC Has $6.62 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Park Avenue Securities LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 29.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 33,245 shares of the wireless technology company’s stock after buying an additional 7,522 shares during the period. Park Avenue Securities LLC’s holdings in QUALCOMM were worth $6,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. raised its stake in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM in the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC boosted its stake in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the last quarter. Finally, Richardson Capital Management LLC acquired a new stake in QUALCOMM during the 1st quarter worth $37,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.6 %

Shares of NASDAQ:QCOM traded down $2.60 during mid-day trading on Wednesday, reaching $156.12. 9,253,307 shares of the stock were exchanged, compared to its average volume of 9,449,838. The company has a market cap of $173.92 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.94 and a beta of 1.27. The stock’s 50 day simple moving average is $198.78 and its 200-day simple moving average is $178.72. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.18%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on QCOM shares. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Evercore ISI started coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. Argus upped their price target on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Robert W. Baird boosted their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,802.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,802.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders have sold a total of 43,129 shares of company stock valued at $8,014,436 over the last 90 days. 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.