Freedom Investment Management Inc. Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Freedom Investment Management Inc. boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,182 shares of the wireless technology company’s stock after buying an additional 1,667 shares during the quarter. Freedom Investment Management Inc.’s holdings in QUALCOMM were worth $2,752,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 1.2 %

Shares of QCOM opened at $156.93 on Wednesday. The business’s 50 day moving average is $167.43 and its 200 day moving average is $181.26. 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 Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The company 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.

QUALCOMM Announces Dividend

The business also recently announced 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. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Citigroup lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

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.