QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,184,631 shares of the wireless technology company’s stock after buying an additional 1,144 shares during the period. QUALCOMM accounts for 0.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Los Angeles Capital Management LLC owned about 0.11% of QUALCOMM worth $201,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Matrix Capital Management Company LP purchased a new stake in QUALCOMM in the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA raised its position 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 valued at $641,221,000 after purchasing an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC raised its position 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 valued at $499,320,000 after purchasing an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp raised its position in 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 buying an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S purchased a new position in QUALCOMM during the 3rd quarter worth $229,078,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 1.2 %

NASDAQ QCOM traded down $2.00 during mid-day trading on Friday, hitting $170.91. The company’s stock had a trading volume of 10,736,646 shares, compared to its average volume of 9,039,770. QUALCOMM Incorporated has a 52-week low of $119.85 and a 52-week high of $230.63. The stock’s fifty day simple moving average is $168.53 and its two-hundred day simple moving average is $182.29. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The firm has a market capitalization of $190.39 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 39.70%. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. Research analysts expect that QUALCOMM Incorporated will post 8.62 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.99%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The shares were 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 owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $169.80, for a total transaction 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.16.

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.