QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Intellectus Partners LLC

Intellectus Partners LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,470 shares of the wireless technology company’s stock after buying an additional 1,891 shares during the quarter. QUALCOMM makes up 0.8% of Intellectus Partners LLC’s portfolio, making the stock its 23rd biggest position. Intellectus Partners LLC’s holdings in QUALCOMM were worth $3,141,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Wedge Capital Management L L P NC lifted its stake in QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after buying an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in QUALCOMM by 39.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after purchasing an additional 50,438 shares during the last quarter. Czech National Bank boosted its stake in QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after purchasing an additional 13,888 shares during the period. Legal & General Group Plc grew its position in QUALCOMM by 0.9% in 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 last quarter. Finally, Heritage Wealth Management Inc. bought a new position in QUALCOMM in the 2nd quarter worth about $1,539,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. UBS Group increased their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $163.97 on Friday. The company’s fifty day moving average is $168.29 and its two-hundred day moving average is $182.29. The company has a market cap of $182.17 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

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

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.