Financial Counselors Inc. Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Counselors Inc. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 199,566 shares of the wireless technology company’s stock after buying an additional 517 shares during the quarter. Financial Counselors Inc.’s holdings in QUALCOMM were worth $33,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in QUALCOMM by 6.3% in the third 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 worth $1,421,037,000 after buying an additional 498,284 shares during the last quarter. Noesis Capital Mangement Corp grew its stake in shares of QUALCOMM by 5.3% during the 3rd quarter. Noesis Capital Mangement Corp now owns 113,043 shares of the wireless technology company’s stock worth $19,223,000 after acquiring an additional 5,693 shares during the period. Public Sector Pension Investment Board increased its holdings in QUALCOMM by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 48,277 shares of the wireless technology company’s stock worth $8,210,000 after acquiring an additional 5,100 shares during the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new stake in QUALCOMM in the 3rd quarter worth about $20,008,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in QUALCOMM by 10.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 774,210 shares of the wireless technology company’s stock valued at $131,654,000 after acquiring an additional 71,644 shares during the period. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Evercore ISI boosted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Susquehanna cut their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.15.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on 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 directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 over the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Down 0.3 %

NASDAQ QCOM opened at $156.40 on Thursday. The stock’s 50-day simple moving average is $167.20 and its two-hundred day simple moving average is $181.09. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. 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 company has a market capitalization of $173.76 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.67 and a beta of 1.28.

QUALCOMM Announces Dividend

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 given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s payout ratio is 37.82%.

About QUALCOMM

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.