Intech Investment Management LLC Has $20.15 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Intech Investment Management LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 180.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,491 shares of the wireless technology company’s stock after acquiring an additional 76,296 shares during the period. Intech Investment Management LLC’s holdings in QUALCOMM were worth $20,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc increased its stake 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 buying an additional 86,195 shares during the period. Van ECK Associates Corp raised its holdings in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM in the 1st quarter valued at $1,171,516,000. Dimensional Fund Advisors LP raised its stake 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 last quarter. Finally, Swiss National Bank lifted its holdings in QUALCOMM by 0.3% in the third quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock valued at $563,274,000 after buying an additional 8,300 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on 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 sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock valued at $2,709,186 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Price Performance

QCOM stock opened at $154.27 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The firm has a 50-day moving average of $168.23 and a 200 day moving average of $181.93. The company has a market cap of $171.39 billion, a P/E ratio of 17.16, a PEG ratio of 2.77 and a beta of 1.28.

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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is presently 37.82%.

QUALCOMM Company 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.