Rep. Jared Moskowitz Purchases Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Representative Jared Moskowitz (D-Florida) recently bought shares of QUALCOMM Incorporated (NASDAQ:QCOM). In a filing disclosed on December 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in QUALCOMM stock on November 8th. The trade occurred in the Representative’s “MORGAN STANLEY ACTIVE ASSETS (1)” account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Atmos Energy (NYSE:ATO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Elevance Health (NYSE:ELV) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 11/8/2024.
• Sold $50,001 – $100,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.

QUALCOMM Stock Down 2.7 %

Shares of QCOM opened at $156.46 on Wednesday. The company has a market capitalization of $173.83 billion, a PE ratio of 17.40, a PEG ratio of 2.67 and a beta of 1.25. The stock’s 50-day moving average price is $165.75 and its two-hundred day moving average price is $179.03. 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 $134.07 and a 12 month high of $230.63.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity

In other news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,450 shares of company stock valued at $3,395,926 in the last three months. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. Pacer Advisors Inc. grew its position in QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after buying an additional 3,014,302 shares during the period. International Assets Investment Management LLC increased its holdings in QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after buying an additional 2,919,490 shares during the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. Finally, Van ECK Associates Corp boosted its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Citigroup dropped their price target 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. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Melius started coverage on QUALCOMM in a report on Monday. They set a “hold” rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $208.00.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida’s 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state’s Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor’s degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz’s career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

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.