World Investment Advisors LLC Has $7.68 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

World Investment Advisors LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 304.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,166 shares of the wireless technology company's stock after buying an additional 33,985 shares during the quarter. World Investment Advisors LLC's holdings in QUALCOMM were worth $7,680,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business'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 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. Over the last three months, insiders sold 38,540 shares of company stock valued at $6,300,999. Insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $0.68 during midday trading on Friday, reaching $157.56. The company's stock had a trading volume of 3,189,744 shares, compared to its average volume of 8,935,676. The business's fifty day simple moving average is $165.18 and its 200-day simple moving average is $178.37. The company has a market capitalization of $175.05 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a fifty-two week low of $134.94 and a fifty-two week high of $230.63.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, December 5th. QUALCOMM's dividend payout ratio is presently 37.82%.

Analyst Ratings Changes

QCOM has been the topic of several research reports. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 16th. Melius initiated coverage on QUALCOMM in a report on Monday. They set a "hold" rating and a $180.00 price objective on the stock. Benchmark restated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, UBS Group raised their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus price target 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.