King Luther Capital Management Corp Has $98.65 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

King Luther Capital Management Corp trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 580,113 shares of the wireless technology company's stock after selling 5,682 shares during the quarter. King Luther Capital Management Corp owned approximately 0.05% of QUALCOMM worth $98,648,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pine Haven Investment Counsel Inc raised its holdings in shares of QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company's stock valued at $410,000 after acquiring an additional 50 shares in the last quarter. Buffington Mohr McNeal lifted its position in QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company's stock valued at $279,000 after purchasing an additional 53 shares during the last quarter. TRUE Private Wealth Advisors increased its holdings in shares of QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company's stock worth $525,000 after buying an additional 57 shares during the last quarter. Macroview Investment Management LLC raised its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company's stock valued at $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock worth $40,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Price Performance

QCOM opened at $154.27 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market cap of $171.39 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.77 and a beta of 1.28. The stock has a fifty day simple moving average of $168.23 and a two-hundred day simple moving average of $181.93. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63.

QUALCOMM Dividend Announcement

The firm 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 dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.20%. QUALCOMM's dividend payout ratio (DPR) is currently 37.82%.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares of the company's stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company's stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 over the last quarter. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. KeyCorp lowered QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. Barclays upped their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. TD Cowen raised shares of QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday. Finally, Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.

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