Kensington Investment Counsel LLC Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kensington Investment Counsel LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 27.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,348 shares of the wireless technology company's stock after selling 9,131 shares during the period. QUALCOMM accounts for 1.7% of Kensington Investment Counsel LLC's investment portfolio, making the stock its 17th biggest position. Kensington Investment Counsel LLC's holdings in QUALCOMM were worth $4,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lantz Financial LLC bought a new position in QUALCOMM in the 2nd quarter valued at $234,000. Retirement Planning Group LLC bought a new position in QUALCOMM in the 2nd quarter valued at $269,000. Artemis Investment Management LLP boosted its holdings in QUALCOMM by 12.4% in the 2nd quarter. Artemis Investment Management LLP now owns 81,521 shares of the wireless technology company's stock valued at $16,237,000 after purchasing an additional 9,013 shares during the period. Aspire Private Capital LLC bought a new position in QUALCOMM in the 2nd quarter valued at $643,000. Finally, Sterling Financial Group Inc. bought a new position in QUALCOMM in the 2nd quarter valued at $215,000. 74.35% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Alexander H. Rogers sold 3,245 shares of the business's 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 sale, the insider now owns 32,231 shares of the company's stock, valued at $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the business'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. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,450 shares of company stock valued at $3,395,926. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 0.5 %

QUALCOMM stock traded down $0.88 during trading hours on Friday, reaching $159.51. The stock had a trading volume of 9,915,824 shares, compared to its average volume of 8,740,207. The stock has a market cap of $177.22 billion, a PE ratio of 17.74, a PEG ratio of 2.73 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $130.39 and a 52 week 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. The company has a fifty day simple moving average of $165.93 and a 200-day simple moving average of $179.32.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's payout ratio is 37.82%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Evercore ISI raised their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. Citigroup lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 16th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, KeyCorp cut shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus 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.