Public Sector Pension Investment Board Has $8.21 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Public Sector Pension Investment Board raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 48,277 shares of the wireless technology company’s stock after acquiring an additional 5,100 shares during the period. Public Sector Pension Investment Board’s holdings in QUALCOMM were worth $8,210,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings 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 purchasing an additional 86,195 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of QUALCOMM by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock valued at $1,129,640,000 after purchasing an additional 52,897 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 acquiring an additional 173,673 shares during the period. Finally, Swiss National Bank lifted its holdings in QUALCOMM by 0.3% during the third quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock worth $563,274,000 after acquiring an additional 8,300 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 over the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.4 %

Shares of QCOM stock opened at $158.53 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $166.64 and a two-hundred day moving average price of $180.74. QUALCOMM Incorporated has a 12-month low of $127.49 and a 12-month high of $230.63. The firm has a market cap of $176.13 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 2.63 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Analyst Ratings Changes

QCOM has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley dropped 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 analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.