Polymer Capital Management HK LTD Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Polymer Capital Management HK LTD decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 73.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,500 shares of the wireless technology company’s stock after selling 4,100 shares during the period. Polymer Capital Management HK LTD’s holdings in QUALCOMM were worth $255,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Legal & General Group Plc grew its stake in shares of QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of QUALCOMM by 6.3% during 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 valued at $1,421,037,000 after buying an additional 498,284 shares during the last quarter. Van ECK Associates Corp grew its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in QUALCOMM by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock worth $1,129,640,000 after purchasing an additional 52,897 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after purchasing an additional 173,673 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $163.34 on Thursday. The business has a fifty day moving average of $166.39 and a 200 day moving average of $180.03. The firm has a market capitalization of $181.47 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $128.95 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. QUALCOMM’s payout ratio is currently 37.82%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

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.