Strategy Asset Managers LLC Purchases Shares of 3,116 QUALCOMM Incorporated (NASDAQ:QCOM)

Strategy Asset Managers LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,116 shares of the wireless technology company’s stock, valued at approximately $530,000.

Several other hedge funds have also modified their holdings of the stock. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM in the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA raised its position in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after buying an additional 3,047,947 shares during the period. International Assets Investment Management LLC boosted its holdings in QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after acquiring an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp grew its position in QUALCOMM by 30.2% during the third 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 acquiring an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S acquired a new stake in QUALCOMM during the third quarter worth about $229,078,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 6.3 %

NASDAQ:QCOM opened at $154.27 on Thursday. The company has a market cap of $171.39 billion, a PE ratio of 17.16, a P/E/G ratio of 2.70 and a beta of 1.28. The business’s 50 day moving average is $168.23 and its two-hundred day moving average is $181.93. 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 Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on QCOM shares. Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Morgan Stanley decreased 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 report on Thursday, November 7th. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.15.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s 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 transaction, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 over the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM 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.