Northwest Bancshares Inc. Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Northwest Bancshares Inc. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,691 shares of the wireless technology company’s stock after selling 307 shares during the period. Northwest Bancshares Inc.’s holdings in QUALCOMM were worth $628,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the period. Van ECK Associates Corp raised its holdings in QUALCOMM by 30.2% during the third 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 in the last quarter. Matrix Capital Management Company LP acquired a new stake in QUALCOMM in the first quarter valued at about $1,171,516,000. Dimensional Fund Advisors LP boosted its holdings in QUALCOMM by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after purchasing an additional 173,673 shares in the last quarter. Finally, Swiss National Bank increased its position in QUALCOMM by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock worth $563,274,000 after purchasing an additional 8,300 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM 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 completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 9.15 % 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 quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.1 %

QCOM opened at $164.71 on Wednesday. The stock has a market capitalization of $182.99 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business has a 50-day moving average of $168.48 and a two-hundred day moving average of $182.13.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Evercore ISI lifted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday, August 2nd. Finally, Citigroup lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.92.

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.