Hazlett Burt & Watson Inc. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Hazlett Burt & Watson Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,061 shares of the wireless technology company’s stock after acquiring an additional 409 shares during the period. Hazlett Burt & Watson Inc.’s holdings in QUALCOMM were worth $520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Matrix Capital Management Company LP purchased a new position in QUALCOMM in the 1st quarter worth $1,171,516,000. Massachusetts Financial Services Co. MA raised 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 worth $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC raised its stake in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp grew its position in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S acquired a new stake in QUALCOMM during the 3rd quarter worth about $229,078,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock traded up $1.49 during trading on Monday, hitting $166.76. The stock had a trading volume of 1,229,761 shares, compared to its average volume of 8,923,171. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a twelve month low of $118.38 and a twelve month high of $230.63. The stock has a market capitalization of $185.77 billion, a P/E ratio of 21.41, a PEG ratio of 1.63 and a beta of 1.28. The company’s 50-day moving average price is $168.77 and its two-hundred day moving average price is $182.12.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 44.04%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents 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 QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,245 shares of company stock valued at $2,395,407 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QCOM. Rosenblatt Securities increased their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald cut their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Barclays increased their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $207.92.

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.