QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 38.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,968,154 shares of the wireless technology company’s stock after selling 1,251,149 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in QUALCOMM were worth $334,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake 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 valued at $499,320,000 after acquiring an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% in the third 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. Maj Invest Holding A S bought a new position in QUALCOMM in the 3rd quarter valued at about $229,078,000. ProShare Advisors LLC increased its stake in QUALCOMM by 86.7% during the 2nd quarter. ProShare Advisors LLC now owns 2,739,106 shares of the wireless technology company’s stock valued at $545,575,000 after buying an additional 1,272,191 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $218,456,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.7 %

NASDAQ QCOM opened at $155.42 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $168.04 and a 200-day moving average price of $181.75. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The company has a market cap of $172.67 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 2.77 and a beta of 1.28.

QUALCOMM Announces Dividend

The business also recently disclosed 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 2.19%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated 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 owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 9.15 % decrease in their position. 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 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

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.