QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Boosted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,184,631 shares of the wireless technology company’s stock after acquiring an additional 1,144 shares during the quarter. QUALCOMM comprises 0.8% of Los Angeles Capital Management LLC’s holdings, making the stock its 22nd biggest position. Los Angeles Capital Management LLC’s holdings in QUALCOMM were worth $201,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedge Capital Management L L P NC grew its position in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after buying an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in QUALCOMM by 39.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after acquiring an additional 50,438 shares during the last quarter. Czech National Bank lifted its holdings in QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after acquiring an additional 13,888 shares during the last quarter. Legal & General Group Plc lifted its holdings in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares during the last quarter. Finally, Heritage Wealth Management Inc. acquired a new stake in QUALCOMM in the 2nd quarter valued at about $1,539,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Rosenblatt Securities upped their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 17th. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Citigroup reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.16.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were 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 of the company’s stock, valued at $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock worth $2,709,186 over the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.2 %

NASDAQ:QCOM traded down $2.00 during mid-day trading on Friday, reaching $170.91. The stock had a trading volume of 10,736,646 shares, compared to its average volume of 9,039,770. The business’s 50 day moving average is $168.53 and its 200 day moving average is $182.29. QUALCOMM Incorporated has a fifty-two week low of $119.85 and a fifty-two week high of $230.63. The stock has a market cap of $190.39 billion, a P/E ratio of 19.01, a PEG ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 8.62 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.