Payden & Rygel Buys 24,300 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Payden & Rygel increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 37.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,200 shares of the wireless technology company's stock after purchasing an additional 24,300 shares during the quarter. Payden & Rygel's holdings in QUALCOMM were worth $15,168,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc lifted its holdings in shares of QUALCOMM by 2.5% during 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 purchasing an additional 50 shares during the last quarter. Buffington Mohr McNeal lifted its holdings in shares of QUALCOMM by 3.9% during the 2nd 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 lifted its holdings in shares of QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company's stock valued at $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC lifted its holdings 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 purchasing an additional 57 shares during 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 valued at $40,000 after purchasing an additional 60 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

QCOM traded down $10.44 during midday trading on Wednesday, reaching $154.27. The company's stock had a trading volume of 14,454,817 shares, compared to its average volume of 9,027,241. The stock has a market cap of $171.39 billion, a P/E ratio of 17.16, a PEG ratio of 2.70 and a beta of 1.28. The company has a fifty day simple moving average of $168.23 and a 200 day simple moving average of $181.93. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, December 5th. QUALCOMM's payout ratio is presently 37.82%.

Analysts Set New Price Targets

QCOM has been the topic of several research reports. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They issued a "hold" rating and a $180.00 target price on the stock. Rosenblatt Securities upped their target price on QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. TD Cowen raised QUALCOMM to a "strong-buy" rating in a research report on Monday, September 16th. Finally, DZ Bank raised QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $210.15.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company's stock, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by corporate insiders.

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.