QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 36.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,431 shares of the wireless technology company’s stock after selling 3,059 shares during the quarter. Blueshift Asset Management LLC’s holdings in QUALCOMM were worth $924,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. HWG Holdings LP acquired a new position in shares of QUALCOMM in the second quarter valued at approximately $30,000. Reston Wealth Management LLC purchased a new position in QUALCOMM during the 3rd quarter worth $26,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter worth $32,000. Aspect Partners LLC raised its holdings in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Planning Capital Management Corp boosted 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. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Evercore ISI upped their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group lifted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.15.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock valued at $2,911,306 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $156.93 on Wednesday. The stock has a 50-day moving average price of $167.43 and a two-hundred day moving average price of $181.26. The company has a market cap of $174.35 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued 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 2.17%. QUALCOMM’s payout ratio is 37.82%.

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.