Penserra Capital Management LLC Has $5.51 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Penserra Capital Management LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 79.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,389 shares of the wireless technology company’s stock after selling 128,005 shares during the period. Penserra Capital Management LLC’s holdings in QUALCOMM were worth $5,506,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of QCOM. Legal & General Group Plc grew 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 acquiring an additional 86,195 shares in the last quarter. Van ECK Associates Corp grew its position in 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 purchasing an additional 1,741,432 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in QUALCOMM by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock valued at $1,129,640,000 after buying an additional 52,897 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after buying an additional 173,673 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of QUALCOMM by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock worth $563,274,000 after buying an additional 8,300 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. Morgan Stanley dropped their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Stock Up 0.9 %

Shares of QCOM opened at $156.79 on Monday. 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 capitalization of $174.19 billion, a PE ratio of 17.44, a P/E/G ratio of 2.64 and a beta of 1.28. The firm’s 50 day moving average is $167.82 and its 200-day moving average is $181.59. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63.

QUALCOMM Dividend Announcement

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 issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,450 shares of company stock worth $2,911,306. 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.