Royal London Asset Management Ltd. Buys 12,796 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Royal London Asset Management Ltd. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 485,500 shares of the wireless technology company's stock after buying an additional 12,796 shares during the period. Royal London Asset Management Ltd.'s holdings in QUALCOMM were worth $82,559,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on QCOM shares. 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. Citigroup lowered 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. Wolfe Research lowered QUALCOMM from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 12th. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Evercore ISI upped their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. One research 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $210.15.

QUALCOMM Stock Performance

QUALCOMM stock traded down $1.18 during midday trading on Thursday, reaching $161.31. 2,836,437 shares of the company's stock were exchanged, compared to its average volume of 8,956,186. QUALCOMM Incorporated has a 52 week low of $129.66 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market cap of $179.22 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 2.72 and a beta of 1.25. The stock's 50-day simple moving average is $166.39 and its 200 day simple moving average is $180.03.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.11%. QUALCOMM's dividend payout ratio is currently 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 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 sale, the chief financial officer now 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,450 shares of company stock worth $2,911,306. Corporate insiders own 0.08% of the company's stock.

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.