Charles Schwab Investment Management Inc. Acquires 52,897 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Charles Schwab Investment Management Inc. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,642,986 shares of the wireless technology company's stock after acquiring an additional 52,897 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.60% of QUALCOMM worth $1,129,640,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of QCOM. CreativeOne Wealth LLC lifted its holdings in shares of QUALCOMM by 52.6% during the first quarter. CreativeOne Wealth LLC now owns 5,652 shares of the wireless technology company's stock valued at $957,000 after purchasing an additional 1,949 shares during the last quarter. Capital International Inc. CA increased its position in QUALCOMM by 13.7% in the first quarter. Capital International Inc. CA now owns 24,474 shares of the wireless technology company's stock worth $4,143,000 after buying an additional 2,942 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its position in shares of QUALCOMM by 3.6% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 129,439 shares of the wireless technology company's stock valued at $21,914,000 after buying an additional 4,490 shares in the last quarter. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM during the 1st quarter valued at $1,171,516,000. Finally, Hhlr Advisors LTD. purchased a new position in QUALCOMM in the 1st quarter worth approximately $508,000. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on QCOM. Benchmark reiterated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Sanford C. Bernstein upped their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. KeyCorp lowered shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday. Finally, Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.15.

QUALCOMM Stock Up 0.7 %

Shares of NASDAQ QCOM traded up $1.15 during mid-day trading on Thursday, reaching $155.42. The company had a trading volume of 8,238,514 shares, compared to its average volume of 9,034,746. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The stock's 50 day moving average is $168.04 and its 200-day moving average is $181.75. 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 has a market capitalization of $172.67 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.77 and a beta of 1.28.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.19%. QUALCOMM's dividend payout ratio is 37.82%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 completion of 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 represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares of the company's stock, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock valued at $2,911,306 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.