QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Davis R M Inc.

Davis R M Inc. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 280,476 shares of the wireless technology company’s stock after selling 19,089 shares during the period. Davis R M Inc.’s holdings in QUALCOMM were worth $47,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Hawaii grew its position in shares of QUALCOMM by 1.3% during the third quarter. Bank of Hawaii now owns 18,374 shares of the wireless technology company’s stock worth $3,125,000 after acquiring an additional 228 shares during the last quarter. Daiwa Securities Group Inc. grew its position in QUALCOMM by 1.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 278,411 shares of the wireless technology company’s stock worth $47,344,000 after purchasing an additional 2,758 shares during the last quarter. Marco Investment Management LLC increased its stake in shares of QUALCOMM by 1.4% in the third quarter. Marco Investment Management LLC now owns 196,553 shares of the wireless technology company’s stock valued at $33,424,000 after purchasing an additional 2,692 shares during the period. Hartford Funds Management Co LLC raised its holdings in shares of QUALCOMM by 2.1% during the third quarter. Hartford Funds Management Co LLC now owns 5,717 shares of the wireless technology company’s stock valued at $972,000 after buying an additional 117 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its position in shares of QUALCOMM by 14.8% during the third quarter. Summit Trail Advisors LLC now owns 14,787 shares of the wireless technology company’s stock worth $2,514,000 after buying an additional 1,909 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.9 %

Shares of QCOM stock opened at $156.79 on Monday. The company has a market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock’s 50 day simple moving average is $167.82 and its 200 day simple moving average is $181.59. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. 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 currently 37.82%.

Analyst Ratings Changes

Several brokerages have weighed in on QCOM. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective 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, Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $210.15.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock worth $2,911,306 in the last quarter. 0.08% of the stock is currently owned by company insiders.

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.