Massachusetts Financial Services Co. MA Sells 1,251,149 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Massachusetts Financial Services Co. MA lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 38.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,968,154 shares of the wireless technology company's stock after selling 1,251,149 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.18% of QUALCOMM worth $334,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wedge Capital Management L L P NC raised its stake in QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock valued at $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company's stock worth $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Aljian Capital Management LLC acquired a new position in QUALCOMM during the third quarter worth about $1,820,000. Czech National Bank raised its stake in QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock worth $38,590,000 after acquiring an additional 13,888 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in QUALCOMM by 0.9% during 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. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. 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 90 days. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $1.33 during midday trading on Friday, reaching $156.79. The company's stock had a trading volume of 5,640,886 shares, compared to its average volume of 9,019,815. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The firm has a 50 day moving average price of $167.82 and a 200-day moving average price of $181.57. The stock has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a PEG ratio of 2.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Dividend Announcement

The firm 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 $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 2.17%. QUALCOMM's payout ratio is presently 37.82%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a research note on Wednesday, October 16th. KeyCorp cut QUALCOMM from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Morgan Stanley reduced their price target on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has an average rating of "Moderate Buy" and an average price target of $210.15.

QUALCOMM Company 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.