3,116 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Strategy Asset Managers LLC

Strategy Asset Managers LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,116 shares of the wireless technology company’s stock, valued at approximately $530,000.

A number of other large investors also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings 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. Van ECK Associates Corp grew its stake in shares of 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 worth $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM in the first quarter worth $1,171,516,000. Dimensional Fund Advisors LP boosted 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 purchasing an additional 173,673 shares during the period. Finally, Swiss National Bank raised its position in QUALCOMM by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock valued at $563,274,000 after purchasing an additional 8,300 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 6.3 %

QCOM opened at $154.27 on Thursday. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The company has a market cap of $171.39 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.70 and a beta of 1.28. The business’s fifty day moving average is $168.23 and its two-hundred day moving average is $181.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.20%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of analyst reports. Morgan Stanley lowered their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday. Loop Capital began 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. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday. Finally, Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 9.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.