Smead Capital Management Inc. Buys 23,188 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Smead Capital Management Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 687,507 shares of the wireless technology company’s stock after purchasing an additional 23,188 shares during the quarter. QUALCOMM makes up approximately 1.7% of Smead Capital Management Inc.’s investment portfolio, making the stock its 21st largest holding. Smead Capital Management Inc. owned about 0.06% of QUALCOMM worth $116,911,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of QUALCOMM by 5.7% during the third quarter. Meeder Asset Management Inc. now owns 163,691 shares of the wireless technology company’s stock worth $27,836,000 after purchasing an additional 8,788 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in QUALCOMM during the 3rd quarter valued at about $422,000. Caprock Group LLC raised its stake in QUALCOMM by 7.7% in the third quarter. Caprock Group LLC now owns 33,407 shares of the wireless technology company’s stock valued at $5,681,000 after buying an additional 2,375 shares during the last quarter. OneAscent Wealth Management LLC purchased a new stake in QUALCOMM in the third quarter valued at about $352,000. Finally, Tidemark LLC boosted its holdings in QUALCOMM by 13.6% in the third quarter. Tidemark LLC now owns 1,214 shares of the wireless technology company’s stock worth $206,000 after acquiring an additional 145 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QCOM shares. Piper Sandler restated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One equities research 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.92.

QUALCOMM Stock Up 2.5 %

QCOM opened at $164.50 on Tuesday. 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. The stock has a market capitalization of $182.76 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The business’s 50-day simple moving average is $168.42 and its 200-day simple moving average is $182.23.

QUALCOMM Announces Dividend

The company 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by company insiders.

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.