Banco Santander S.A. Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Banco Santander S.A. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.0% in the third quarter, HoldingsChannel reports. The firm owned 188,012 shares of the wireless technology company’s stock after selling 7,814 shares during the period. Banco Santander S.A.’s holdings in QUALCOMM were worth $31,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter worth $30,000. Reston Wealth Management LLC acquired a new position in QUALCOMM during the 3rd quarter worth about $26,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the 2nd quarter valued at about $32,000. Aspect Partners LLC grew its position in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Finally, Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Susquehanna cut their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday. Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Evercore ISI lifted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 $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 16,146 shares of company stock valued at $2,709,186 in the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock opened at $153.24 on Thursday. The stock has a market capitalization of $170.25 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.77 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a 50 day moving average price of $168.23 and a 200 day moving average price of $181.93.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.22%. QUALCOMM’s dividend payout ratio is 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.