Brown Brothers Harriman & Co. Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Brown Brothers Harriman & Co. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,693 shares of the wireless technology company’s stock after selling 460 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in QUALCOMM were worth $4,369,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter valued at about $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $32,000. Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Finally, Aspect Partners LLC lifted its stake in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.82 on Tuesday. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve 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. The firm has a 50-day moving average of $167.67 and a two-hundred day moving average of $181.44. The company has a market capitalization of $176.45 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.64 and a beta of 1.28.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 3,245 shares of the company’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 completion of the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the 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 transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,450 shares of company stock worth $2,911,306. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on QCOM shares. Evercore ISI increased their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $210.15.

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.