Portfolio Design Labs LLC Invests $1.58 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Portfolio Design Labs LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,302 shares of the wireless technology company's stock, valued at approximately $1,582,000.

Several other large investors have also recently made changes to their positions in the business. Wedge Capital Management L L P NC increased its holdings in shares of 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 worth $60,264,000 after buying an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of 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 valued at $30,068,000 after purchasing an additional 50,438 shares during the period. Aljian Capital Management LLC bought a new position in shares of QUALCOMM in the third quarter worth approximately $1,820,000. Czech National Bank increased its stake in shares of QUALCOMM by 6.5% in the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock worth $38,590,000 after buying an additional 13,888 shares during the period. Finally, Legal & General Group Plc raised its holdings in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock valued at $1,999,114,000 after buying an additional 86,195 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 6.3 %

QUALCOMM stock traded down $10.44 during mid-day trading on Wednesday, hitting $154.27. The company's stock had a trading volume of 14,454,817 shares, compared to its average volume of 9,027,241. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The stock has a market cap of $171.39 billion, a PE ratio of 17.25, a P/E/G ratio of 2.70 and a beta of 1.28. The company has a 50 day moving average of $168.48 and a 200-day moving average of $182.13. 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 Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group upped their target price on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. TD Cowen upgraded shares of QUALCOMM to a "strong-buy" rating in a report on Monday, September 16th. Finally, DZ Bank upgraded QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 target price on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $210.15.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 3,245 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were 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 directly owns 32,231 shares of the company's stock, valued at $5,355,180.65. This represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business'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 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 disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 in the last 90 days. 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.