Itau Unibanco Holding S.A. Purchases New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Itau Unibanco Holding S.A. acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 442 shares of the wireless technology company’s stock, valued at approximately $75,000.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Harmony Asset Management LLC raised its position in QUALCOMM by 49.5% in the 3rd quarter. Harmony Asset Management LLC now owns 1,902 shares of the wireless technology company’s stock valued at $323,000 after buying an additional 630 shares during the last quarter. Heard Capital LLC raised its holdings in shares of QUALCOMM by 12.2% in the third quarter. Heard Capital LLC now owns 14,480 shares of the wireless technology company’s stock valued at $2,462,000 after purchasing an additional 1,580 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of QUALCOMM by 7.6% during the third quarter. HighTower Advisors LLC now owns 1,299,006 shares of the wireless technology company’s stock valued at $221,391,000 after purchasing an additional 91,354 shares in the last quarter. Hilltop Holdings Inc. boosted its holdings in QUALCOMM by 31.4% during the third quarter. Hilltop Holdings Inc. now owns 7,349 shares of the wireless technology company’s stock worth $1,250,000 after purchasing an additional 1,758 shares during the last quarter. Finally, Ascent Group LLC grew its position in QUALCOMM by 241.6% in the 3rd quarter. Ascent Group LLC now owns 9,665 shares of the wireless technology company’s stock worth $1,644,000 after purchasing an additional 6,836 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were 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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,450 shares of company stock worth $2,911,306. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $162.58 on Wednesday. The company has a 50 day moving average of $166.49 and a 200 day moving average of $180.15. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a market cap of $180.63 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.74 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $128.03 and a 12 month high of $230.63.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.09%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on QCOM shares. Sanford C. Bernstein boosted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target 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.