Sanctuary Advisors LLC Purchases 63,802 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sanctuary Advisors LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 38.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,327 shares of the wireless technology company’s stock after purchasing an additional 63,802 shares during the quarter. Sanctuary Advisors LLC’s holdings in QUALCOMM were worth $36,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of QCOM. Macroview Investment Management LLC grew its stake in shares of QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after acquiring an additional 57 shares during the period. McClarren Financial Advisors Inc. grew its holdings in shares of QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after acquiring an additional 60 shares during the period. Paulson Wealth Management Inc. increased its position in shares of QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares during the last quarter. Tranquility Partners LLC lifted its stake in shares of QUALCOMM by 2.1% in the 2nd quarter. Tranquility Partners LLC now owns 3,044 shares of the wireless technology company’s stock worth $606,000 after purchasing an additional 62 shares during the period. Finally, Institute for Wealth Management LLC. grew its position in QUALCOMM by 0.5% during the second quarter. Institute for Wealth Management LLC. now owns 13,843 shares of the wireless technology company’s stock valued at $2,757,000 after buying an additional 64 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. UBS Group raised their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Price Performance

QUALCOMM stock opened at $159.83 on Thursday. QUALCOMM Incorporated has a 52-week low of $134.94 and a 52-week high of $230.63. The company has a market cap of $177.57 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.67 and a beta of 1.25. The firm’s fifty day moving average is $165.39 and its 200 day moving average is $178.52. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.13%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,540 shares of company stock valued at $6,300,999 over the last ninety days. 0.08% of the stock is 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.