Rep. Jared Moskowitz Buys QUALCOMM Incorporated (NASDAQ:QCOM) Stock

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 Performance

NASDAQ QCOM opened at $160.74 on Tuesday. The company has a 50-day simple moving average of $165.75 and a two-hundred day simple moving average of $179.03. QUALCOMM Incorporated has a 12-month low of $134.07 and a 12-month high of $230.63. The firm has a market cap of $178.58 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.67 and a beta of 1.25. 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 Dividend Announcement

The firm 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is presently 37.82%.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently modified their holdings of the company. Copley Financial Group Inc. purchased a new stake in QUALCOMM in the 3rd quarter worth $141,000. Oddo BHF Asset Management Sas bought a new position in shares of QUALCOMM in the third quarter worth about $344,000. Franklin Resources Inc. grew its position in shares of QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after purchasing an additional 110,828 shares in the last quarter. Synovus Financial Corp grew its position in shares of QUALCOMM by 8.2% during the third quarter. Synovus Financial Corp now owns 54,680 shares of the wireless technology company’s stock worth $9,299,000 after purchasing an additional 4,129 shares in the last quarter. Finally, Optimist Retirement Group LLC raised its stake in QUALCOMM by 4.1% during the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company’s stock valued at $2,309,000 after purchasing an additional 531 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,450 shares of company stock worth $3,395,926 in the last three months. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Susquehanna reduced their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Melius Research began coverage on shares of QUALCOMM in a research note on Monday. They issued a “hold” rating and a $180.00 target price on the stock. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently 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.