Toronto Dominion Bank Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Toronto Dominion Bank lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 47.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 401,292 shares of the wireless technology company’s stock after selling 366,102 shares during the period. Toronto Dominion Bank’s holdings in QUALCOMM were worth $68,240,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of QCOM. State Street Corp lifted its position in shares of QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. Geode Capital Management LLC lifted its holdings in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of QUALCOMM by 0.9% during 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 purchasing an additional 86,195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after buying an additional 498,284 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,450 shares of company stock worth $3,395,926. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on QCOM. Evercore ISI lifted their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Citigroup decreased 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. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Morgan Stanley decreased their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Stock Down 2.7 %

QCOM stock opened at $156.46 on Wednesday. The firm has a fifty day moving average price of $165.75 and a two-hundred day moving average price of $179.03. 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 Incorporated has a 1-year low of $134.07 and a 1-year high of $230.63. The firm has a market cap of $173.83 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.67 and a beta of 1.25.

QUALCOMM Announces Dividend

The business also recently announced 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 2.17%. QUALCOMM’s payout ratio is currently 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.