Acropolis Investment Management LLC Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Acropolis Investment Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,196 shares of the wireless technology company’s stock after selling 478 shares during the quarter. Acropolis Investment Management LLC’s holdings in QUALCOMM were worth $2,244,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of QCOM. Legal & General Group Plc boosted its holdings in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after buying an additional 498,284 shares during the period. Van ECK Associates Corp grew its position in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of QUALCOMM by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock worth $1,129,640,000 after buying an additional 52,897 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after acquiring an additional 173,673 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Sanford C. Bernstein boosted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Trading Up 1.4 %

NASDAQ:QCOM opened at $158.53 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $166.64 and a 200-day simple moving average of $180.74. QUALCOMM Incorporated has a 52-week low of $127.49 and a 52-week high of $230.63. The company has a market capitalization of $176.13 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.63 and a beta of 1.28.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 2.14%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value 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 trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is owned by insiders.

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.