Meeder Asset Management Inc. Buys 8,788 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Meeder Asset Management Inc. increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,691 shares of the wireless technology company's stock after purchasing an additional 8,788 shares during the period. QUALCOMM makes up approximately 1.9% of Meeder Asset Management Inc.'s portfolio, making the stock its 13th biggest holding. Meeder Asset Management Inc.'s holdings in QUALCOMM were worth $27,836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the third quarter valued at approximately $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the second quarter valued at approximately $32,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after purchasing an additional 74 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, 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 completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares of the company's stock, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. UBS Group increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. KeyCorp lowered QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. Finally, DZ Bank raised QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $210.92.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $0.21 during midday trading on Tuesday, reaching $164.71. 6,169,124 shares of the company's stock traded hands, compared to its average volume of 9,003,038. The company has a market cap of $182.99 billion, a price-to-earnings ratio of 18.32, a P/E/G 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. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The stock has a 50 day moving average of $168.48 and a 200 day moving average of $182.13.

QUALCOMM Announces Dividend

The company also recently disclosed 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. 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.