Freestone Capital Holdings LLC Grows Stock Holdings in QUALCOMM Incorporated $QCOM

Freestone Capital Holdings LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 95,707 shares of the wireless technology company’s stock after purchasing an additional 7,969 shares during the period. Freestone Capital Holdings LLC’s holdings in QUALCOMM were worth $15,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Machina Capital S.A.S. raised its position in shares of QUALCOMM by 4.7% in the 2nd quarter. Machina Capital S.A.S. now owns 8,056 shares of the wireless technology company’s stock valued at $1,283,000 after purchasing an additional 360 shares during the last quarter. Westside Investment Management Inc. grew its position in QUALCOMM by 1.7% during the 2nd quarter. Westside Investment Management Inc. now owns 23,394 shares of the wireless technology company’s stock worth $3,727,000 after purchasing an additional 388 shares during the last quarter. Texas Bank & Trust Co increased its stake in QUALCOMM by 5.5% during the 2nd quarter. Texas Bank & Trust Co now owns 7,778 shares of the wireless technology company’s stock valued at $1,239,000 after purchasing an additional 408 shares in the last quarter. MMA Asset Management LLC raised its holdings in shares of QUALCOMM by 3.3% in the second quarter. MMA Asset Management LLC now owns 4,357 shares of the wireless technology company’s stock worth $694,000 after buying an additional 139 shares during the last quarter. Finally, EPG Wealth Management LLC raised its holdings in shares of QUALCOMM by 1.4% in the second quarter. EPG Wealth Management LLC now owns 9,965 shares of the wireless technology company’s stock worth $1,587,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $180.90 on Monday. The stock has a market capitalization of $195.19 billion, a P/E ratio of 17.44, a PEG ratio of 2.59 and a beta of 1.23. The business has a 50 day simple moving average of $165.85 and a two-hundred day simple moving average of $156.82. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $205.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. QUALCOMM’s payout ratio is presently 34.33%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 8,335 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $166.06, for a total value of $1,384,110.10. Following the sale, the chief financial officer directly owned 36,541 shares in the company, valued at approximately $6,067,998.46. The trade was a 18.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristiano R. Amon sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the completion of the transaction, the chief executive officer owned 149,304 shares in the company, valued at approximately $24,718,770.24. This represents a 50.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 163,169 shares of company stock worth $26,978,998. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on QCOM. Piper Sandler dropped their price target on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Arete raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a report on Tuesday, August 26th. Mizuho dropped their target price on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. UBS Group set a $165.00 price target on shares of QUALCOMM in a report on Monday, October 27th. Finally, Susquehanna raised their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $183.95.

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.