United Services Automobile Association reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 27.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 168,061 shares of the wireless technology company's stock after selling 64,707 shares during the period. QUALCOMM makes up approximately 0.7% of United Services Automobile Association's holdings, making the stock its 28th biggest holding. United Services Automobile Association's holdings in QUALCOMM were worth $28,579,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. TRUE Private Wealth Advisors boosted its position in QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company's stock worth $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC raised its stake in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company's stock worth $119,000 after purchasing an additional 57 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock worth $40,000 after buying an additional 60 shares during the last quarter. Paulson Wealth Management Inc. boosted its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company's stock worth $475,000 after buying an additional 61 shares during the last quarter. Finally, Tranquility Partners LLC grew its position in QUALCOMM by 2.1% during the second quarter. Tranquility Partners LLC now owns 3,044 shares of the wireless technology company's stock valued at $606,000 after buying an additional 62 shares during the period. Institutional investors own 74.35% of the company's stock.
QUALCOMM Price Performance
Shares of QCOM stock traded down $0.88 on Friday, reaching $159.51. The company's stock had a trading volume of 9,915,824 shares, compared to its average volume of 8,740,207. The company has a market capitalization of $177.22 billion, a P/E ratio of 17.74, a PEG ratio of 2.73 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $130.39 and a 12-month high of $230.63. The stock's 50 day simple moving average is $165.93 and its 200-day simple moving average is $179.48. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.
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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. QUALCOMM's payout ratio is currently 37.82%.
Analyst Upgrades and Downgrades
Several brokerages have commented on QCOM. 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 on the stock. UBS Group lifted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Sanford C. Bernstein increased their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Wolfe Research downgraded QUALCOMM from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 12th. Finally, Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average price target of $210.15.
View Our Latest Report on QCOM
Insider Activity
In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM 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 sale, the chief accounting officer now directly owns 94 shares of the company's stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,450 shares of company stock worth $3,395,926. 0.08% of the stock is currently owned by insiders.
QUALCOMM Company Profile
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Free Report)
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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