QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 93.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,800 shares of the wireless technology company's stock after selling 185,101 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in QUALCOMM were worth $2,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the 3rd quarter worth $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM in the second quarter worth about $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the second quarter worth about $32,000. Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, Aspect Partners LLC lifted its holdings in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock worth $35,000 after purchasing an additional 74 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.5 %

QUALCOMM stock traded down $0.88 during trading on Friday, reaching $159.51. 9,915,824 shares of the company were exchanged, compared to its average volume of 8,740,207. The stock's 50 day simple moving average is $165.93 and its two-hundred day simple moving average is $179.32. The company has a market capitalization of $177.22 billion, a P/E ratio of 17.74, a PEG ratio of 2.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 52-week low of $130.39 and a 52-week high of $230.63.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 yield of 2.13%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio is presently 37.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. 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 research report on Thursday, November 7th. Citigroup reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, October 16th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Evercore ISI lifted their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Finally, TD Cowen raised QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. One investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $210.15.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's 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 sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,450 shares of company stock worth $3,395,926. Company insiders own 0.08% of the company's stock.

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.