QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 157.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,708 shares of the wireless technology company’s stock after buying an additional 23,673 shares during the period. Quantbot Technologies LP’s holdings in QUALCOMM were worth $6,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in shares of QUALCOMM during the second quarter valued at $30,000. Reston Wealth Management LLC acquired a new position in QUALCOMM in the 3rd quarter valued at approximately $26,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at about $32,000. Aspect Partners LLC grew its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Finally, Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Barclays lifted their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Stock Up 1.3 %

NASDAQ:QCOM opened at $158.82 on Tuesday. 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 $176.45 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth 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. The stock’s 50 day moving average price is $167.67 and its two-hundred day moving average price is $181.44.

QUALCOMM Announces Dividend

The company also recently declared 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. This represents a $3.40 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade 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 worth $2,911,306 over the last quarter. 0.08% of the stock is currently owned by 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.