Wahed Invest LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,927 shares of the wireless technology company's stock after purchasing an additional 3,489 shares during the period. QUALCOMM makes up 0.8% of Wahed Invest LLC's holdings, making the stock its 23rd biggest holding. Wahed Invest LLC's holdings in QUALCOMM were worth $4,579,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of QCOM. Massachusetts Financial Services Co. MA lifted its position in 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 valued at $641,221,000 after buying an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of 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 worth $542,688,000 after acquiring an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of 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 period. Van ECK Associates Corp increased its holdings in 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 purchasing an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in QUALCOMM by 202.6% in the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock valued at $350,626,000 after purchasing an additional 1,380,500 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.
QUALCOMM Stock Performance
Shares of NASDAQ QCOM traded down $0.88 during midday trading on Friday, reaching $159.51. 9,913,260 shares of the company were exchanged, compared to its average volume of 8,971,356. The stock has a market cap of $177.22 billion, a P/E ratio of 17.74, a PEG ratio of 2.72 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $130.39 and a 1 year high of $230.63. The stock has a fifty day simple moving average of $166.15 and a 200 day simple moving average of $179.89. 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 Announces Dividend
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 paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.
Insider Buying and Selling
In related news, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company's stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 completion of the transaction, the chief financial officer now owns 51,437 shares of the company's stock, valued at $8,535,970.15. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,450 shares of company stock valued at $3,395,926 over the last three months. 0.08% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
QCOM has been the subject of a number of research reports. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. UBS Group lifted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.15.
Check Out Our Latest Research Report on QCOM
About QUALCOMM
(
Free Report)
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.
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