Te Ahumairangi Investment Management Ltd Has $6.35 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Te Ahumairangi Investment Management Ltd grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 60.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,551 shares of the wireless technology company's stock after buying an additional 14,213 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in QUALCOMM were worth $6,349,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. State Street Corp raised its stake in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. Geode Capital Management LLC increased its position in shares of QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Legal & General Group Plc lifted its holdings in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock valued at $1,999,114,000 after purchasing an additional 86,195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in QUALCOMM by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock valued at $1,421,037,000 after buying an additional 498,284 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company's stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,540 shares of company stock valued at $6,300,999. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 1.0 %

Shares of QCOM traded down $1.59 on Thursday, hitting $158.24. The company's stock had a trading volume of 5,690,724 shares, compared to its average volume of 8,953,351. The firm's fifty day moving average price is $165.39 and its 200-day moving average price is $178.52. QUALCOMM Incorporated has a fifty-two week low of $134.94 and a fifty-two week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $175.80 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 2.67 and a beta of 1.25.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM's payout ratio is 37.82%.

Analysts Set New Price Targets

QCOM has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Benchmark restated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. TD Cowen upgraded shares of QUALCOMM to a "strong-buy" rating in a research report on Monday, September 16th. Finally, Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a "hold" rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

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.