Sphera Funds Management LTD. Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sphera Funds Management LTD. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 58.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,800 shares of the wireless technology company's stock after selling 11,025 shares during the period. Sphera Funds Management LTD.'s holdings in QUALCOMM were worth $1,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its stake in shares of QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock valued at $8,777,289,000 after purchasing an additional 870,814 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of QUALCOMM by 0.6% in the 3rd quarter. Stifel Financial Corp now owns 1,625,353 shares of the wireless technology company's stock valued at $276,397,000 after purchasing an additional 10,037 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of QUALCOMM by 40.8% in the 3rd quarter. Quantinno Capital Management LP now owns 144,118 shares of the wireless technology company's stock valued at $24,507,000 after purchasing an additional 41,792 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of QUALCOMM by 2.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 485,500 shares of the wireless technology company's stock valued at $82,559,000 after purchasing an additional 12,796 shares in the last quarter. Finally, Redwood Grove Capital LLC raised its holdings in QUALCOMM by 31.3% during the 3rd quarter. Redwood Grove Capital LLC now owns 103,206 shares of the wireless technology company's stock valued at $17,550,000 after buying an additional 24,606 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on QCOM. UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, November 20th. Finally, Wolfe Research lowered shares of QUALCOMM from an "outperform" rating to a "peer perform" rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $210.15.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 1.3 %

QUALCOMM stock traded down $2.09 during trading hours on Thursday, reaching $160.39. The stock had a trading volume of 7,274,074 shares, compared to its average volume of 8,966,022. The company has a market cap of $178.19 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.72 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. The business's 50 day moving average price is $166.39 and its 200-day moving average price is $180.03. QUALCOMM Incorporated has a 52 week low of $129.66 and a 52 week high of $230.63.

QUALCOMM Announces Dividend

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

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.