Sphera Funds Management LTD. Sells 11,025 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sphera Funds Management LTD. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 58.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,800 shares of the wireless technology company’s stock after selling 11,025 shares during the quarter. Sphera Funds Management LTD.’s holdings in QUALCOMM were worth $1,326,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of QCOM. Massachusetts Financial Services Co. MA increased 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 buying an additional 3,047,947 shares in the last quarter. Pacer Advisors Inc. increased its stake in QUALCOMM by 1,702.6% in 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 in the last quarter. International Assets Investment Management LLC increased 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 buying an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp increased its stake 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 worth $1,250,644,000 after buying an additional 1,741,432 shares in the last quarter. Finally, Maj Invest Holding A S purchased a new stake in QUALCOMM in the 3rd quarter worth $229,078,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.5 %

Shares of NASDAQ:QCOM opened at $163.34 on Thursday. 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’s 50 day moving average is $166.39 and its 200 day moving average is $180.03. The stock has a market cap of $181.47 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $128.95 and a 52-week high of $230.63.

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. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on 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 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 over the last three months. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on QCOM shares. Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $210.15.

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.