Empowered Funds LLC Buys 39,894 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Empowered Funds LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 48.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 122,371 shares of the wireless technology company’s stock after purchasing an additional 39,894 shares during the quarter. Empowered Funds LLC’s holdings in QUALCOMM were worth $20,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Leelyn Smith LLC acquired a new position in shares of QUALCOMM during the first quarter worth approximately $208,000. Cumberland Partners Ltd bought a new stake in shares of QUALCOMM during the 1st quarter valued at $1,100,000. M&G Plc bought a new stake in QUALCOMM during the 1st quarter worth approximately $129,388,000. Pinkerton Retirement Specialists LLC increased its holdings in shares of QUALCOMM by 17.5% in the first quarter. Pinkerton Retirement Specialists LLC now owns 23,777 shares of the wireless technology company’s stock worth $4,025,000 after purchasing an additional 3,546 shares during the period. Finally, AI Squared Management Ltd purchased a new stake in shares of QUALCOMM in the 1st quarter valued at about $2,793,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.8 %

QUALCOMM stock opened at $162.70 on Friday. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $168.29 and its two-hundred day simple moving average is $182.29. The firm has a market cap of $180.76 billion, a PE ratio of 18.24, a P/E/G ratio of 2.70 and a beta of 1.28.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 2.09%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’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 value of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 of the company’s stock, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Evercore ISI boosted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $210.92.

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.