Thrivent Financial for Lutherans Has $310.80 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Thrivent Financial for Lutherans trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,827,683 shares of the wireless technology company's stock after selling 47,502 shares during the period. QUALCOMM comprises 0.6% of Thrivent Financial for Lutherans' holdings, making the stock its 13th largest position. Thrivent Financial for Lutherans owned approximately 0.16% of QUALCOMM worth $310,797,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. HWG Holdings LP bought a new position in QUALCOMM during the second quarter worth $30,000. Reston Wealth Management LLC acquired a new position in QUALCOMM in the 3rd quarter valued at about $26,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC lifted its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock worth $35,000 after acquiring an additional 74 shares during the last quarter. Finally, Planning Capital Management Corp lifted its position in QUALCOMM by 137.3% during the third 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 during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $160.50 on Friday. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The stock has a 50-day moving average of $168.35 and a 200 day moving average of $182.21. 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 company has a market capitalization of $178.32 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently announced 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 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio is 37.82%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QCOM. Westpark Capital reiterated a "hold" rating on shares of QUALCOMM in a research note on Tuesday, July 30th. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Piper Sandler reissued an "overweight" rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Rosenblatt Securities raised their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Finally, Loop Capital started coverage on shares of QUALCOMM in a 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, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $210.92.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,146 shares of company stock valued at $2,709,186. Insiders own 0.08% of the company's stock.

QUALCOMM 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.

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