QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Cable Hill Partners LLC

Cable Hill Partners LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 46.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,575 shares of the wireless technology company’s stock after buying an additional 1,756 shares during the period. Cable Hill Partners LLC’s holdings in QUALCOMM were worth $948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in QUALCOMM by 0.9% during the 2nd 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. Van ECK Associates Corp lifted its stake in shares of 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 worth $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM in the first quarter worth about $1,171,516,000. Dimensional Fund Advisors LP grew its stake in shares of QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after buying an additional 173,673 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of QUALCOMM by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,289,764 shares of the wireless technology company’s stock valued at $559,424,000 after buying an additional 49,047 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on QCOM shares. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Barclays lifted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Susquehanna dropped their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.92.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 0.00 % 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 worth $2,709,186 in the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Down 1.8 %

NASDAQ QCOM opened at $160.42 on Thursday. 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 52 week low of $125.67 and a 52 week high of $230.63. The stock has a market capitalization of $178.23 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28. The stock has a fifty day moving average of $168.39 and a 200-day moving average of $182.44.

QUALCOMM Announces Dividend

The firm also recently announced 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 of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. QUALCOMM’s payout ratio 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.