Peak Asset Management LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 24.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,491 shares of the wireless technology company’s stock after purchasing an additional 1,295 shares during the quarter. Peak Asset Management LLC’s holdings in QUALCOMM were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC bought a new stake in QUALCOMM during the 3rd quarter valued at approximately $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC increased its stake in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. Finally, Accordant Advisory Group Inc bought a new position in shares of QUALCOMM during the 3rd quarter valued at approximately $36,000. 74.35% of the stock is currently owned by institutional investors.
QUALCOMM Stock Performance
Shares of QCOM stock opened at $160.42 on Thursday. 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 quick ratio of 1.79 and a current ratio of 2.40. The firm has a market cap of $178.23 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.75 and a beta of 1.28. The stock’s 50-day moving average is $168.39 and its two-hundred day moving average is $182.44.
QUALCOMM Dividend Announcement
Insider Activity
In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. 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 QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on QCOM. Susquehanna decreased their target price on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. Finally, TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.92.
Check Out Our Latest Stock Analysis on QCOM
About QUALCOMM
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.
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