Pitcairn Co. Has $2.06 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Pitcairn Co. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 19.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,114 shares of the wireless technology company’s stock after selling 2,872 shares during the period. Pitcairn Co.’s holdings in QUALCOMM were worth $2,060,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QCOM. Wedge Capital Management L L P NC lifted its stake in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after purchasing an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after buying an additional 50,438 shares during the period. Icon Wealth Advisors LLC boosted its stake in QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after buying an additional 18,315 shares in the last quarter. Aljian Capital Management LLC bought a new stake in QUALCOMM in the third quarter valued at $1,820,000. Finally, Czech National Bank raised its stake in QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after acquiring an additional 13,888 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.9 %

NASDAQ:QCOM opened at $156.79 on Friday. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The stock has a 50-day moving average price of $167.82 and a two-hundred day moving average price of $181.58. The stock has a market cap of $174.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.61 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 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 issued 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 dividend payout ratio (DPR) is currently 37.82%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QCOM. Sanford C. Bernstein increased their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is currently owned by corporate 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.