Meeder Asset Management Inc. Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Meeder Asset Management Inc. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 163,691 shares of the wireless technology company’s stock after buying an additional 8,788 shares during the period. QUALCOMM makes up 1.9% of Meeder Asset Management Inc.’s holdings, making the stock its 13th largest holding. Meeder Asset Management Inc.’s holdings in QUALCOMM were worth $27,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC raised its position in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the last quarter. Finally, Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.5 %

Shares of QUALCOMM stock opened at $164.50 on Tuesday. The company has a fifty day moving average price of $168.42 and a 200 day moving average price of $182.23. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The stock has a market cap of $182.76 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Evercore ISI lifted their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut 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. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were 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 directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 of the company’s stock, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,146 shares of company stock valued at $2,709,186. 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.