Cypress Capital Group Has $3.79 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cypress Capital Group raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,312 shares of the wireless technology company’s stock after acquiring an additional 313 shares during the period. Cypress Capital Group’s holdings in QUALCOMM were worth $3,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC lifted its holdings in shares of QUALCOMM by 52.6% during the first quarter. CreativeOne Wealth LLC now owns 5,652 shares of the wireless technology company’s stock worth $957,000 after purchasing an additional 1,949 shares during the period. Capital International Inc. CA grew its position in shares of QUALCOMM by 13.7% in the 1st quarter. Capital International Inc. CA now owns 24,474 shares of the wireless technology company’s stock valued at $4,143,000 after buying an additional 2,942 shares during the last quarter. Stonebridge Capital Advisors LLC increased its stake in shares of QUALCOMM by 3.6% in the first quarter. Stonebridge Capital Advisors LLC now owns 129,439 shares of the wireless technology company’s stock valued at $21,914,000 after buying an additional 4,490 shares during the period. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM during the first quarter worth about $1,171,516,000. Finally, Hhlr Advisors LTD. acquired a new position in shares of QUALCOMM in the first quarter worth approximately $508,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 6.3 %

Shares of QUALCOMM stock opened at $154.27 on Thursday. The company has a market capitalization of $171.39 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 2.77 and a beta of 1.28. The stock has a fifty day simple moving average of $168.23 and a 200 day simple moving average of $181.93. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month 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 announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 2.20%. QUALCOMM’s payout ratio is 37.82%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QCOM. UBS Group boosted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Barclays raised their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One equities 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.15.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 9.15 % 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 over the last quarter. Insiders own 0.08% of the company’s stock.

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.