TCW Group Inc. Has $26.33 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

TCW Group Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,814 shares of the wireless technology company’s stock after buying an additional 666 shares during the period. TCW Group Inc.’s holdings in QUALCOMM were worth $26,326,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the 3rd quarter valued at about $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $32,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter worth approximately $36,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Evercore ISI boosted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated 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 in the company, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,450 shares of company stock worth $3,395,926 over the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 2.7 %

Shares of QCOM stock opened at $156.46 on Wednesday. The company has a market capitalization of $173.83 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 2.67 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $134.07 and a 12-month high of $230.63. The firm has a fifty day moving average of $165.75 and a 200-day moving average of $179.03. 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 declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is 37.82%.

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.