Glenmede Trust Co. NA Purchases 3,455 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Glenmede Trust Co. NA boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 486,014 shares of the wireless technology company’s stock after buying an additional 3,455 shares during the period. Glenmede Trust Co. NA’s holdings in QUALCOMM were worth $82,647,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Bridgewater Associates LP grew its holdings in QUALCOMM by 1,968.1% during the third quarter. Bridgewater Associates LP now owns 796,997 shares of the wireless technology company’s stock worth $135,529,000 after buying an additional 758,459 shares in the last quarter. Freedom Investment Management Inc. grew its stake in shares of QUALCOMM by 11.5% in the 3rd quarter. Freedom Investment Management Inc. now owns 16,182 shares of the wireless technology company’s stock worth $2,752,000 after acquiring an additional 1,667 shares in the last quarter. Capital Counsel LLC NY raised its holdings in shares of QUALCOMM by 1.7% in the third quarter. Capital Counsel LLC NY now owns 583,346 shares of the wireless technology company’s stock valued at $99,198,000 after purchasing an additional 9,669 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of QUALCOMM by 11.8% during the third quarter. Townsquare Capital LLC now owns 151,650 shares of the wireless technology company’s stock valued at $25,788,000 after purchasing an additional 16,054 shares in the last quarter. Finally, Cadence Bank boosted its holdings in QUALCOMM by 1.2% during the third quarter. Cadence Bank now owns 65,385 shares of the wireless technology company’s stock worth $11,119,000 after purchasing an additional 781 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $156.93 on Wednesday. The stock’s 50-day simple moving average is $167.43 and its two-hundred day simple moving average is $181.26. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The firm has a market capitalization of $174.35 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.67 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 business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM’s payout ratio is presently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM 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 completion of the sale, the chief accounting officer now 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 document filed with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents 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 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on QCOM. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company boosted their target price 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. Finally, Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.15.

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.