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

NorthRock Partners LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,460 shares of the wireless technology company’s stock after purchasing an additional 1,191 shares during the quarter. NorthRock Partners LLC’s holdings in QUALCOMM were worth $1,098,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Matrix Capital Management Company LP purchased a new stake in QUALCOMM in the first quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA grew its stake in shares of 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 buying an additional 3,047,947 shares during the period. International Assets Investment Management LLC raised its position in shares of 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 buying an additional 2,919,490 shares during the period. Van ECK Associates Corp grew its holdings in shares of 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 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 Analyst Weigh In

A number of analysts have recently issued reports on QCOM shares. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Susquehanna dropped their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.29.

QUALCOMM Trading Up 1.0 %

Shares of QUALCOMM stock traded up $1.64 on Tuesday, hitting $166.82. 782,786 shares of the company’s stock traded hands, compared to its average volume of 8,902,515. 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 one year low of $118.38 and a one year high of $230.63. The firm’s 50-day moving average price is $168.69 and its two-hundred day moving average price is $182.14. The stock has a market capitalization of $185.84 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28.

QUALCOMM Dividend Announcement

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

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s 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 completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock valued at $2,709,186 in the last quarter. 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.