Entropy Technologies LP Acquires New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Entropy Technologies LP acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 33,154 shares of the wireless technology company’s stock, valued at approximately $5,638,000. QUALCOMM comprises about 0.6% of Entropy Technologies LP’s holdings, making the stock its 27th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in 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 purchasing an additional 86,195 shares during the period. Van ECK Associates Corp grew its position in QUALCOMM by 30.2% during 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 buying an additional 1,741,432 shares during the period. Matrix Capital Management Company LP purchased a new position in QUALCOMM in the first quarter valued at about $1,171,516,000. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $970,951,000 after acquiring an additional 173,673 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were 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 directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Down 1.5 %

QCOM stock opened at $168.29 on Tuesday. The firm has a market cap of $186.97 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.74 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $122.63 and a 1-year high of $230.63. The firm has a fifty day moving average price of $168.53 and a two-hundred day moving average price of $182.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.78.

QUALCOMM Dividend Announcement

The business also recently announced 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. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research reports. Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. cut their target price 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. Evercore ISI increased their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. Finally, Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.92.

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.