Synovus Financial Corp Has $9.30 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Synovus Financial Corp lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,680 shares of the wireless technology company's stock after purchasing an additional 4,129 shares during the period. Synovus Financial Corp's holdings in QUALCOMM were worth $9,299,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM in the second quarter worth $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the second quarter worth $32,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the third quarter worth $36,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QCOM. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a "hold" rating and a $180.00 target price for the company. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Benchmark reiterated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company's stock, valued at $5,355,180.65. This represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,540 shares of company stock valued at $6,300,999. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ QCOM traded up $0.29 on Friday, reaching $158.53. The company's stock had a trading volume of 8,884,210 shares, compared to its average volume of 8,959,828. QUALCOMM Incorporated has a twelve month low of $134.94 and a twelve month 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 stock has a market cap of $176.13 billion, a PE ratio of 17.63, a PEG ratio of 2.68 and a beta of 1.25. The firm's 50 day moving average is $164.97 and its two-hundred day moving average is $178.01.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. 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.