Zacks Investment Management Has $100.71 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Zacks Investment Management increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 592,257 shares of the wireless technology company's stock after buying an additional 21,792 shares during the period. Zacks Investment Management owned 0.05% of QUALCOMM worth $100,713,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after acquiring an additional 870,814 shares during the last quarter. Legal & General Group Plc increased its position in 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 purchasing an additional 86,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in QUALCOMM by 6.3% during the 3rd 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 purchasing an additional 498,284 shares during the last quarter. Van ECK Associates Corp lifted its position 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 period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of QUALCOMM by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company's stock valued at $1,129,640,000 after purchasing an additional 52,897 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, 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 transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,450 shares of company stock worth $3,395,926 in the last three months. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. TD Cowen upgraded QUALCOMM to a "strong-buy" rating in a research report on Monday, September 16th. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $210.15.

QUALCOMM Stock Down 0.5 %

Shares of QCOM stock traded down $0.88 during trading 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. QUALCOMM Incorporated has a one year low of $130.39 and a one year high of $230.63. The business has a fifty day moving average price of $166.15 and a 200-day moving average price of $179.89. The company has a market cap of $177.22 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.73 and a beta of 1.25. 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 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 yield of 2.13%. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

QUALCOMM Company 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.