QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 73.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,500 shares of the wireless technology company's stock after selling 4,100 shares during the period. Polymer Capital Management HK LTD's holdings in QUALCOMM were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company's stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock valued at $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC boosted its stake in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company's stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp boosted its stake in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S purchased a new stake in shares of QUALCOMM during the third quarter worth $229,078,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on QCOM shares. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Benchmark reissued a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. TD Cowen raised QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. Finally, Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a "hold" rating and a $180.00 price objective for the company. One 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $210.15.

QUALCOMM Stock Down 1.8 %

Shares of NASDAQ QCOM traded down $2.95 during mid-day trading on Thursday, reaching $160.39. The company had a trading volume of 7,273,028 shares, compared to its average volume of 8,976,454. The firm has a 50 day simple moving average of $166.15 and a two-hundred day simple moving average of $179.89. QUALCOMM Incorporated has a 52-week low of $129.66 and a 52-week high of $230.63. 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 stock has a market cap of $178.19 billion, a P/E ratio of 17.84, a PEG ratio of 2.72 and a beta of 1.25.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is currently 37.82%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company's 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 completion of the sale, the general counsel now directly owns 12,007 shares of the company's stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,450 shares of company stock valued at $2,911,306. Insiders own 0.08% of the company's stock.

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.