Blueshift Asset Management LLC Sells 3,059 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Blueshift Asset Management LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 36.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,431 shares of the wireless technology company’s stock after selling 3,059 shares during the period. Blueshift Asset Management LLC’s holdings in QUALCOMM were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in QCOM. Massachusetts Financial Services Co. MA increased its position 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 valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. Pacer Advisors Inc. increased its holdings in QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after buying an additional 3,014,302 shares during the period. International Assets Investment Management LLC lifted its holdings in QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after buying an additional 2,919,490 shares during the period. Van ECK Associates Corp increased its holdings in shares of 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 valued at $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. Finally, Maj Invest Holding A S purchased a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $229,078,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock opened at $156.93 on Wednesday. The stock has a market cap of $174.35 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a 50 day simple moving average of $167.43 and a 200-day simple moving average of $181.26. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63.

QUALCOMM Dividend Announcement

The business also recently announced 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. This represents a $3.40 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research analyst reports. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. Piper Sandler reiterated 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. Barclays raised their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,450 shares of company stock valued at $2,911,306. Company insiders own 0.08% of the company’s stock.

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.