Quantbot Technologies LP Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Quantbot Technologies LP lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 157.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,708 shares of the wireless technology company’s stock after purchasing an additional 23,673 shares during the period. Quantbot Technologies LP’s holdings in QUALCOMM were worth $6,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its position in shares of QUALCOMM by 1.3% in the third quarter. D.A. Davidson & CO. now owns 420,079 shares of the wireless technology company’s stock worth $71,435,000 after buying an additional 5,565 shares in the last quarter. Dai ichi Life Insurance Company Ltd increased its stake in QUALCOMM by 14.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 47,128 shares of the wireless technology company’s stock worth $8,014,000 after acquiring an additional 6,000 shares during the last quarter. Qsemble Capital Management LP grew its holdings in shares of QUALCOMM by 9.4% in the third quarter. Qsemble Capital Management LP now owns 19,865 shares of the wireless technology company’s stock valued at $3,378,000 after purchasing an additional 1,706 shares in the last quarter. Private Trust Co. NA increased its position in QUALCOMM by 1.6% in the third quarter. Private Trust Co. NA now owns 14,676 shares of the wireless technology company’s stock worth $2,496,000 after purchasing an additional 235 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new stake in QUALCOMM during the third quarter valued at $679,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Evercore ISI lifted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Stock Up 1.3 %

Shares of NASDAQ QCOM opened at $158.82 on Tuesday. The firm has a market cap of $176.45 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The firm’s 50 day moving average price is $167.67 and its 200 day moving average price is $181.44.

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 paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.14%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is owned by company insiders.

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.