QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Boosted by State Street Corp

State Street Corp grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,615,929 shares of the wireless technology company's stock after purchasing an additional 870,814 shares during the period. State Street Corp owned approximately 4.65% of QUALCOMM worth $8,777,289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock worth $35,000 after acquiring an additional 74 shares in the last quarter. Finally, Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Down 1.3 %

NASDAQ QCOM traded down $2.09 during trading hours on Thursday, hitting $160.39. The company had a trading volume of 7,274,074 shares, compared to its average volume of 8,966,022. QUALCOMM Incorporated has a fifty-two week low of $129.66 and a fifty-two week high of $230.63. The company has a market capitalization of $178.19 billion, a price-to-earnings ratio of 18.17, a P/E/G 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 firm's 50 day moving average is $166.39 and its 200 day 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 $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. QUALCOMM's payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company's stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 in the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QCOM. Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They issued a "hold" rating and a $180.00 target price on the stock. Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Morgan Stanley reduced their target price 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. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $210.15.

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.