First Commonwealth Financial Corp PA Purchases 144 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

First Commonwealth Financial Corp PA boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,748 shares of the wireless technology company’s stock after acquiring an additional 144 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in QUALCOMM were worth $1,658,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter worth approximately $26,000. HWG Holdings LP bought a new stake in QUALCOMM in the second quarter valued at $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter valued at $32,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Aspect Partners LLC grew its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Barclays boosted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $0.48 on Wednesday, reaching $157.41. The stock had a trading volume of 492,332 shares, compared to its average volume of 8,985,686. The business’s 50 day moving average is $167.43 and its two-hundred day moving average is $181.26. The company has a market cap of $174.88 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.67 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 current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued 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 2.16%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,450 shares of company stock worth $2,911,306. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.