Loomis Sayles & Co. L P Sells 165,947 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Loomis Sayles & Co. L P trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,941,432 shares of the wireless technology company’s stock after selling 165,947 shares during the period. QUALCOMM accounts for 1.3% of Loomis Sayles & Co. L P’s portfolio, making the stock its 19th largest position. Loomis Sayles & Co. L P owned 0.53% of QUALCOMM worth $1,010,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Pine Haven Investment Counsel Inc lifted its stake in QUALCOMM by 2.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares during the last quarter. Buffington Mohr McNeal lifted its position in shares of QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after buying an additional 53 shares during the last quarter. TRUE Private Wealth Advisors grew its position in shares of QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after buying an additional 57 shares during the last quarter. Macroview Investment Management LLC lifted its position in QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after acquiring an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its stake in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $156.79 on Monday. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The firm’s 50 day moving average is $167.82 and its two-hundred day moving average is $181.59. The company has a market cap of $174.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.64 and a beta of 1.28. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were 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 of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,450 shares of company stock valued at $2,911,306. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Friday, August 2nd. Finally, Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

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.