Richard C. Young & CO. LTD. Buys 16,430 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Richard C. Young & CO. LTD. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 44.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,712 shares of the wireless technology company's stock after acquiring an additional 16,430 shares during the quarter. Richard C. Young & CO. LTD.'s holdings in QUALCOMM were worth $9,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Wedge Capital Management L L P NC raised its position in 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 valued at $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted 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 worth $30,068,000 after buying an additional 50,438 shares during the last quarter. Czech National Bank lifted its position in QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock worth $38,590,000 after buying an additional 13,888 shares during the last quarter. Legal & General Group Plc grew its position in QUALCOMM by 0.9% during 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 acquiring an additional 86,195 shares during the last quarter. Finally, Heritage Wealth Management Inc. purchased a new position in shares of QUALCOMM during the second quarter worth approximately $1,539,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on QCOM shares. Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. Citigroup decreased their price target on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 16th. Susquehanna dropped their price objective on QUALCOMM from $250.00 to $230.00 and set a "positive" rating for the company in a research note on Monday, October 21st. DZ Bank raised shares of QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 target price on the stock in a research note on Friday, August 2nd. Finally, Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average price target of $210.92.

QUALCOMM Stock Up 2.6 %

Shares of NASDAQ:QCOM traded up $4.11 on Monday, hitting $164.61. 2,985,687 shares of the company traded hands, compared to its average volume of 8,994,094. The stock has a 50 day simple moving average of $168.35 and a 200-day simple moving average of $182.34. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market cap of $182.88 billion, a PE ratio of 17.85, a PEG ratio of 2.70 and a beta of 1.28.

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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM's payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction 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 represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 over the last three months. 0.08% of the stock is currently owned by company insiders.

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.