First Horizon Advisors Inc. Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First Horizon Advisors Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,877 shares of the wireless technology company's stock after buying an additional 7,682 shares during the quarter. First Horizon Advisors Inc.'s holdings in QUALCOMM were worth $18,855,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC grew its holdings in shares of QUALCOMM by 17.1% during 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 purchasing an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in QUALCOMM by 39.9% in the 3rd 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 acquiring an additional 50,438 shares in the last quarter. Aljian Capital Management LLC bought a new position in shares of QUALCOMM in the third quarter worth about $1,820,000. Czech National Bank grew its stake in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock valued at $38,590,000 after purchasing an additional 13,888 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of QUALCOMM by 0.9% in the second 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 purchasing an additional 86,195 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,146 shares of company stock valued at $2,709,186. Insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 6.3 %

Shares of QCOM traded down $10.44 during midday trading on Wednesday, hitting $154.27. The stock had a trading volume of 14,454,817 shares, compared to its average volume of 9,027,241. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. 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 stock's 50 day moving average is $168.48 and its 200 day moving average is $182.13. 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 Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on QUALCOMM from $155.00 to $170.00 and gave the company a "hold" rating in a research note on Thursday, August 1st. KeyCorp lowered shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $210.15.

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.