Redwood Grove Capital LLC Purchases 24,606 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Redwood Grove Capital LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 31.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 103,206 shares of the wireless technology company's stock after acquiring an additional 24,606 shares during the period. QUALCOMM makes up about 4.8% of Redwood Grove Capital LLC's investment portfolio, making the stock its 11th biggest position. Redwood Grove Capital LLC's holdings in QUALCOMM were worth $17,550,000 at the end of the most recent quarter.

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

QUALCOMM Stock Down 1.8 %

QCOM traded down $2.95 during trading on Thursday, reaching $160.39. The company had a trading volume of 7,273,028 shares, compared to its average volume of 8,976,454. The business's fifty day moving average price is $166.15 and its 200 day moving average price is $179.89. 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 company has a market cap of $178.19 billion, a P/E ratio of 17.84, a PEG ratio of 2.72 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $129.66 and a 12 month high of $230.63.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company's stock, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business's stock in a transaction on Monday, November 4th. The stock was 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 directly owns 12,007 shares in the company, 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 have sold a total of 17,450 shares of company stock valued at $2,911,306 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on QCOM shares. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. KeyCorp cut shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. Evercore ISI raised their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.