Primecap Management Co. CA Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Primecap Management Co. CA cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,885,653 shares of the wireless technology company’s stock after selling 63,990 shares during the quarter. Primecap Management Co. CA’s holdings in QUALCOMM were worth $830,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in QCOM. Pine Haven Investment Counsel Inc increased its holdings in QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after acquiring an additional 50 shares during the last quarter. Buffington Mohr McNeal increased its holdings in QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares during the last quarter. TRUE Private Wealth Advisors increased its holdings in QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after acquiring an additional 57 shares during the last quarter. Macroview Investment Management LLC increased its holdings in QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after acquiring an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. increased its holdings in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after acquiring an additional 60 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $154.27 on Thursday. The business has a 50 day moving average of $168.23 and a 200 day moving average of $181.93. The company has a market capitalization of $171.39 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.77 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year 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.

QUALCOMM Dividend Announcement

The business 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 $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 2.20%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday. One equities 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM 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.