Boussard & Gavaudan Investment Management LLP Buys Shares of 117,697 QUALCOMM Incorporated (NASDAQ:QCOM)

Boussard & Gavaudan Investment Management LLP bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 117,697 shares of the wireless technology company’s stock, valued at approximately $20,008,000. QUALCOMM makes up about 1.8% of Boussard & Gavaudan Investment Management LLP’s portfolio, making the stock its 18th biggest position.

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

QUALCOMM Trading Down 0.3 %

QCOM opened at $156.40 on Thursday. The firm has a market capitalization of $173.76 billion, a P/E ratio of 17.40, a P/E/G ratio of 2.67 and a beta of 1.28. The firm’s 50 day moving average is $167.20 and its 200-day moving average is $181.09. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated 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 owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 9.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. Barclays lifted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities lifted their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $210.15.

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.