Wilmington Savings Fund Society FSB Purchases 47,945 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wilmington Savings Fund Society FSB raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 620.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,668 shares of the wireless technology company's stock after buying an additional 47,945 shares during the period. Wilmington Savings Fund Society FSB's holdings in QUALCOMM were worth $9,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the third quarter worth approximately $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $32,000. Planning Capital Management Corp increased its holdings 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 valued at $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a "hold" rating and a $180.00 price target for the company. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, November 20th. Finally, StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The shares were 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 in the company, valued at approximately $5,355,180.65. This represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,540 shares of company stock worth $6,300,999. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 1.0 %

NASDAQ QCOM traded down $1.59 on Thursday, reaching $158.24. The company had a trading volume of 5,787,091 shares, compared to its average volume of 8,960,022. The company's fifty day moving average is $165.39 and its 200-day moving average is $178.52. The firm has a market capitalization of $175.80 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 1-year low of $134.94 and a 1-year high of $230.63.

QUALCOMM Dividend Announcement

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