Aljian Capital Management LLC Takes $1.82 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Aljian Capital Management LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,702 shares of the wireless technology company's stock, valued at approximately $1,820,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wedge Capital Management L L P NC raised its position in shares of QUALCOMM by 17.1% during the 3rd 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 boosted its holdings in shares of QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company's stock valued at $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Czech National Bank increased its position in shares of QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock valued at $38,590,000 after purchasing an additional 13,888 shares during the period. Legal & General Group Plc raised its position in QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock worth $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new stake in QUALCOMM during the second quarter valued at approximately $1,539,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. Rosenblatt Securities increased their price target on QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Wolfe Research downgraded QUALCOMM from an "outperform" rating to a "peer perform" rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their target price on QUALCOMM from $155.00 to $170.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Robert W. Baird raised their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $210.92.

QUALCOMM Trading Up 2.5 %

NASDAQ:QCOM traded up $4.00 on Monday, reaching $164.50. The company's stock had a trading volume of 7,786,840 shares, compared to its average volume of 9,015,734. The firm has a market cap of $182.76 billion, a PE ratio of 18.30, a PEG ratio of 2.70 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 business's 50-day moving average price is $168.42 and its two-hundred day moving average price is $182.23. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63.

QUALCOMM Announces Dividend

The company 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

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.