West Family Investments Inc. Acquires 1,292 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

West Family Investments Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 55.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,632 shares of the wireless technology company’s stock after buying an additional 1,292 shares during the quarter. West Family Investments Inc.’s holdings in QUALCOMM were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Legal & General Group Plc boosted its holdings in shares of 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 valued at $1,999,114,000 after purchasing an additional 86,195 shares during the period. Van ECK Associates Corp lifted its holdings 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 worth $1,250,644,000 after buying an additional 1,741,432 shares during the period. Matrix Capital Management Company LP purchased a new stake in QUALCOMM during the first quarter worth $1,171,516,000. Dimensional Fund Advisors LP lifted its holdings in QUALCOMM by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after buying an additional 173,673 shares during the period. Finally, Swiss National Bank lifted its holdings in QUALCOMM by 0.3% during the third quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock worth $563,274,000 after buying an additional 8,300 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 2.5 %

Shares of QCOM opened at $164.50 on Tuesday. The business’s 50-day moving average price is $168.42 and its 200 day moving average price is $182.23. The stock has a market capitalization of $182.76 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. 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 Announces Dividend

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 paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,146 shares of company stock worth $2,709,186. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, UBS Group increased their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $210.92.

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.