Prospera Financial Services Inc Purchases 15,593 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Prospera Financial Services Inc lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 83.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,235 shares of the wireless technology company's stock after buying an additional 15,593 shares during the period. Prospera Financial Services Inc's holdings in QUALCOMM were worth $5,826,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of QUALCOMM by 0.9% in 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. Van ECK Associates Corp grew its position in shares of QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $1,171,516,000. Dimensional Fund Advisors LP boosted its position in shares of QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company's stock valued at $970,951,000 after purchasing an additional 173,673 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of QUALCOMM by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company's stock valued at $563,274,000 after purchasing an additional 8,300 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other 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 transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,146 shares of company stock valued at $2,709,186. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $10.44 during trading hours on Wednesday, reaching $154.27. The company 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 business has a fifty day simple moving average of $168.48 and a 200 day simple moving average of $182.13. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a market cap of $171.39 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have issued reports on QCOM shares. Evercore ISI increased their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. UBS Group increased their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. DZ Bank upgraded QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Sanford C. Bernstein increased 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. Finally, KeyCorp downgraded QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $210.15.

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.