Heard Capital LLC Has $2.46 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Heard Capital LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,480 shares of the wireless technology company’s stock after purchasing an additional 1,580 shares during the period. QUALCOMM makes up 0.1% of Heard Capital LLC’s holdings, making the stock its 18th biggest holding. Heard Capital LLC’s holdings in QUALCOMM were worth $2,462,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. HighTower Advisors LLC lifted its holdings in QUALCOMM by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 1,299,006 shares of the wireless technology company’s stock valued at $221,391,000 after purchasing an additional 91,354 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in QUALCOMM by 31.4% in the third quarter. Hilltop Holdings Inc. now owns 7,349 shares of the wireless technology company’s stock valued at $1,250,000 after acquiring an additional 1,758 shares in the last quarter. Ascent Group LLC raised its stake in shares of QUALCOMM by 241.6% in the 3rd quarter. Ascent Group LLC now owns 9,665 shares of the wireless technology company’s stock worth $1,644,000 after buying an additional 6,836 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in QUALCOMM by 1.6% in the third quarter. Beacon Investment Advisory Services Inc. now owns 80,669 shares of the wireless technology company’s stock worth $13,718,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of QUALCOMM by 957.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 292,575 shares of the wireless technology company’s stock worth $49,769,000 after buying an additional 264,909 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Up 2.8 %

QUALCOMM stock opened at $163.03 on Tuesday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $166.64 and its two-hundred day simple moving average is $180.58. The firm has a market cap of $181.13 billion, a PE ratio of 18.13, a P/E/G ratio of 2.67 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $128.03 and a 12 month high of $230.63.

QUALCOMM Dividend Announcement

The firm 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 2.09%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Citigroup cut their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given 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 a consensus rating of “Moderate Buy” and an average target price of $210.15.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the 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 directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock valued at $2,911,306 in the last 90 days. 0.08% of the stock is owned by company insiders.

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.