QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by New England Asset Management Inc.

New England Asset Management Inc. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,346 shares of the wireless technology company’s stock after purchasing an additional 85 shares during the period. QUALCOMM accounts for approximately 1.2% of New England Asset Management Inc.’s investment portfolio, making the stock its 27th biggest holding. New England Asset Management Inc.’s holdings in QUALCOMM were worth $7,711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Leelyn Smith LLC acquired a new position in QUALCOMM during the 1st quarter valued at approximately $208,000. Lake Street Advisors Group LLC boosted its position in QUALCOMM by 32.6% in the first quarter. Lake Street Advisors Group LLC now owns 12,051 shares of the wireless technology company’s stock valued at $2,040,000 after buying an additional 2,965 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in QUALCOMM in the first quarter valued at approximately $26,413,000. Pitcairn Co. increased its holdings in QUALCOMM by 6.9% in the 1st quarter. Pitcairn Co. now owns 11,339 shares of the wireless technology company’s stock worth $1,920,000 after buying an additional 729 shares during the period. Finally, Natixis Investment Managers International raised its position in QUALCOMM by 89.5% during the 1st quarter. Natixis Investment Managers International now owns 14,400 shares of the wireless technology company’s stock worth $2,438,000 after buying an additional 6,800 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $164.50 on Tuesday. The stock has a 50 day moving average of $168.42 and a two-hundred day moving average of $182.23. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The firm has a market cap of $182.76 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Susquehanna dropped their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

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.