Capital Investment Services of America Inc. Has $28.61 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Investment Services of America Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,248 shares of the wireless technology company’s stock after selling 9,425 shares during the period. QUALCOMM makes up approximately 2.7% of Capital Investment Services of America Inc.’s holdings, making the stock its 14th biggest position. Capital Investment Services of America Inc.’s holdings in QUALCOMM were worth $28,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wedge Capital Management L L P NC grew its position in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares in the last quarter. Czech National Bank increased its position in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after purchasing an additional 13,888 shares during the period. Legal & General Group Plc raised its stake in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. bought a new position in QUALCOMM in the second quarter worth $1,539,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Robert W. Baird boosted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. 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. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Susquehanna dropped their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.77 during midday trading on Monday, reaching $167.04. The company had a trading volume of 1,374,428 shares, compared to its average volume of 8,923,850. The stock has a fifty day simple moving average of $168.77 and a 200 day simple moving average of $182.12. QUALCOMM Incorporated has a 1-year low of $118.38 and a 1-year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $186.08 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,245 shares of company stock worth $2,395,407 over the last 90 days. Insiders own 0.08% of the company’s stock.

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.