Erste Asset Management GmbH Takes $15.66 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Erste Asset Management GmbH acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 91,944 shares of the wireless technology company’s stock, valued at approximately $15,657,000.

Several other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Pacer Advisors Inc. increased its stake in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $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 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 buying an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp boosted its position in QUALCOMM by 30.2% in the 3rd 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 buying an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S acquired a new position in shares of QUALCOMM in the third quarter worth $229,078,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on QCOM shares. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Stock Up 1.4 %

QCOM stock opened at $158.53 on Monday. QUALCOMM Incorporated has a 12 month low of $127.49 and a 12 month high of $230.63. 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 company has a market cap of $176.13 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. The company has a fifty day moving average price of $166.64 and a 200 day moving average price of $180.58.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the 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 of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction 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. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock valued at $2,911,306 over the last quarter. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.