Rep. William R. Keating Buys Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Representative William R. Keating (D-Massachusetts) recently bought shares of QUALCOMM Incorporated (NASDAQ:QCOM). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in QUALCOMM stock on October 31st.

Representative William R. Keating also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOGL) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Amentum (NYSE:AMTM) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Caterpillar (NYSE:CAT) on 9/11/2024.
• Sold $1,001 – $15,000 in shares of NXP Semiconductors (NASDAQ:NXPI) on 9/11/2024.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $172.99 on Thursday. The company has a market capitalization of $192.71 billion, a PE ratio of 22.41, a P/E/G ratio of 1.66 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $119.15 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a 50 day simple moving average of $168.55 and a two-hundred day simple moving average of $182.14.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM’s payout ratio is 44.04%.

Analysts Set New Price Targets

Several brokerages recently issued reports on QCOM. Wells Fargo & Company increased their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Susquehanna cut their price target on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Citigroup decreased their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Cantor Fitzgerald cut their target price on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.29.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were 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 owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the firm’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 completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Adero Partners LLC grew its position in QUALCOMM by 5.0% during the third quarter. Adero Partners LLC now owns 1,811 shares of the wireless technology company’s stock valued at $308,000 after acquiring an additional 86 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new position in QUALCOMM in the 3rd quarter worth $523,000. GoalVest Advisory LLC lifted its stake in QUALCOMM by 180.9% in the third quarter. GoalVest Advisory LLC now owns 323 shares of the wireless technology company’s stock worth $55,000 after purchasing an additional 208 shares during the last quarter. Sather Financial Group Inc lifted its stake in QUALCOMM by 0.3% in the third quarter. Sather Financial Group Inc now owns 344,144 shares of the wireless technology company’s stock worth $58,522,000 after purchasing an additional 1,166 shares during the last quarter. Finally, Accredited Investors Inc. grew its stake in shares of QUALCOMM by 11.7% during the third quarter. Accredited Investors Inc. now owns 2,384 shares of the wireless technology company’s stock valued at $405,000 after buying an additional 250 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Keating

Bill Keating (Democratic Party) is a member of the U.S. House, representing Massachusetts’ 9th Congressional District. He assumed office on January 3, 2013. His current term ends on January 3, 2025. Keating (Democratic Party) is running for re-election to the U.S. House to represent Massachusetts’ 9th Congressional District. He declared candidacy for the 2024 election. Keating was first elected to the House in 2010 for Massachusetts’ 10th Congressional District but due to redistricting, he won re-election in Massachusetts’ 9th Congressional District on November 6, 2012. Prior to being elected to the House, Keating was a member of the Massachusetts House of Representatives and a member of the Massachusetts State Senate. He also served as the Norfolk District Attorney. After earning his bachelor’s degree, Keating went into politics as a 23-year-old representative in the Massachusetts House of Representatives. He served in that chamber for seven years and went on to be elected to the Massachusetts Senate. Keating also earned his master’s degree and J.D., passing the Massachusetts bar. In the decade between serving in the state senate and being elected to the U.S. House, Keating worked as the Norfolk district attorney.

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.