Fmr LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Fmr LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,208,051 shares of the wireless technology company’s stock after selling 2,470,203 shares during the period. Fmr LLC owned approximately 1.19% of QUALCOMM worth $2,246,029,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QCOM. Massachusetts Financial Services Co. MA increased its position in QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Pacer Advisors Inc. lifted its position in QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after buying an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC grew its stake in QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after buying an additional 2,919,490 shares during the period. Van ECK Associates Corp increased 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 worth $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. Finally, Maj Invest Holding A S purchased a new position in shares of QUALCOMM in the 3rd quarter valued at $229,078,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.3 %

QUALCOMM stock opened at $158.82 on Tuesday. The firm has a market capitalization of $176.45 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.64 and a beta of 1.28. The company has a 50-day simple moving average of $167.67 and a 200-day simple moving average of $181.44. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued 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 2.14%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,450 shares of company stock worth $2,911,306. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on QCOM shares. Morgan Stanley lowered their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.