Caprock Group LLC Buys 2,375 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Caprock Group LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,407 shares of the wireless technology company’s stock after acquiring an additional 2,375 shares during the period. Caprock Group LLC’s holdings in QUALCOMM were worth $5,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM in the first quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA increased its stake 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. International Assets Investment Management LLC increased its stake in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp raised its holdings in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S bought a new position in QUALCOMM in the third quarter valued at approximately $229,078,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research analyst reports. Morgan Stanley dropped their price objective 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. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $210.92.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value 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 sold 16,146 shares of company stock valued at $2,709,186 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $164.50 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market cap of $182.76 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The firm’s 50-day simple moving average is $168.42 and its 200 day simple moving average is $182.23.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid 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 yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.