Smead Capital Management Inc. Has $116.91 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Smead Capital Management Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 687,507 shares of the wireless technology company's stock after purchasing an additional 23,188 shares during the period. QUALCOMM accounts for about 1.7% of Smead Capital Management Inc.'s investment portfolio, making the stock its 21st largest position. Smead Capital Management Inc. owned approximately 0.06% of QUALCOMM worth $116,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Leelyn Smith LLC purchased a new stake in shares of QUALCOMM during the 1st quarter worth about $208,000. Lake Street Advisors Group LLC increased its holdings in shares of QUALCOMM by 32.6% during the 1st quarter. Lake Street Advisors Group LLC now owns 12,051 shares of the wireless technology company's stock valued at $2,040,000 after acquiring an additional 2,965 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $26,413,000. Pitcairn Co. increased its holdings in shares of QUALCOMM by 6.9% during the 1st quarter. Pitcairn Co. now owns 11,339 shares of the wireless technology company's stock valued at $1,920,000 after acquiring an additional 729 shares during the last quarter. Finally, Natixis Investment Managers International increased its holdings in shares of QUALCOMM by 89.5% during the 1st quarter. Natixis Investment Managers International now owns 14,400 shares of the wireless technology company's stock valued at $2,438,000 after acquiring an additional 6,800 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QCOM. Rosenblatt Securities increased their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Sanford C. Bernstein increased their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a "hold" rating in a report on Thursday, August 1st. UBS Group raised their target price on 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. lowered their target price on 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 issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus target price of $210.92.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business'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 owns 51,437 shares of the company's stock, valued at approximately $8,535,970.15. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

QCOM traded up $0.21 during trading on Tuesday, hitting $164.71. The company's stock had a trading volume of 6,169,124 shares, compared to its average volume of 9,003,038. The firm's 50 day moving average price is $168.48 and its two-hundred day moving average price is $182.13. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The stock has a market capitalization of $182.99 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28.

QUALCOMM Announces Dividend

The firm 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.06%. QUALCOMM's payout ratio is 37.82%.

QUALCOMM Company 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.