Wellington Management Group LLP Sells 748,027 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wellington Management Group LLP cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,662,721 shares of the wireless technology company's stock after selling 748,027 shares during the quarter. Wellington Management Group LLP owned 0.96% of QUALCOMM worth $1,813,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lantz Financial LLC acquired a new position in QUALCOMM during the 2nd quarter valued at about $234,000. Sax Wealth Advisors LLC bought a new stake in QUALCOMM during the second quarter valued at $310,000. Wolff Wiese Magana LLC grew its holdings in shares of QUALCOMM by 6.6% during the second quarter. Wolff Wiese Magana LLC now owns 16,191 shares of the wireless technology company's stock worth $3,225,000 after purchasing an additional 1,009 shares in the last quarter. Twelve Points Wealth Management LLC increased its holdings in shares of QUALCOMM by 0.6% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 13,096 shares of the wireless technology company's stock worth $2,608,000 after buying an additional 80 shares during the last quarter. Finally, Atlas Private Wealth Advisors bought a new stake in QUALCOMM in the 2nd quarter worth approximately $245,000. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other 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 transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares of the company's stock, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,450 shares of company stock worth $3,395,926 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Down 0.5 %

QUALCOMM stock traded down $0.88 during mid-day trading on Friday, hitting $159.51. The stock had a trading volume of 9,915,824 shares, compared to its average volume of 8,980,462. The stock has a market capitalization of $177.22 billion, a PE ratio of 17.74, a P/E/G ratio of 2.72 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12 month low of $130.39 and a 12 month high of $230.63. The stock has a 50-day simple moving average of $166.15 and a two-hundred day simple moving average of $179.89.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is 37.82%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group upped their target price on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. TD Cowen upgraded shares of QUALCOMM to a "strong-buy" rating in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. KeyCorp cut shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. Finally, Benchmark reiterated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. One 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 company. According to MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus target price 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.