Tidemark LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Tidemark LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,214 shares of the wireless technology company’s stock after purchasing an additional 145 shares during the period. Tidemark LLC’s holdings in QUALCOMM were worth $206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Leelyn Smith LLC acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $208,000. Trustmark National Bank Trust Department grew its holdings in QUALCOMM by 83.7% in the first quarter. Trustmark National Bank Trust Department now owns 7,367 shares of the wireless technology company’s stock valued at $1,247,000 after purchasing an additional 3,356 shares during the period. O Shaughnessy Asset Management LLC raised its stake in QUALCOMM by 61.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 93,476 shares of the wireless technology company’s stock worth $15,826,000 after purchasing an additional 35,581 shares during the period. Capitolis Liquid Global Markets LLC raised its stake in QUALCOMM by 121.6% during the first quarter. Capitolis Liquid Global Markets LLC now owns 554,000 shares of the wireless technology company’s stock worth $93,792,000 after purchasing an additional 304,000 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of QUALCOMM by 31.5% during the 1st quarter. Bessemer Group Inc. now owns 1,287,425 shares of the wireless technology company’s stock valued at $217,962,000 after buying an additional 308,687 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $160.50 on Monday. The firm has a fifty day moving average of $168.35 and a two-hundred day moving average of $182.34. The firm has a market cap of $178.32 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM’s payout ratio is 37.82%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on QCOM shares. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.92.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by 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.