Intech Investment Management LLC Has $20.15 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Intech Investment Management LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 180.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,491 shares of the wireless technology company’s stock after acquiring an additional 76,296 shares during the period. Intech Investment Management LLC’s holdings in QUALCOMM were worth $20,149,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Aurora Investment Counsel raised its stake in QUALCOMM by 9.3% during the 3rd quarter. Aurora Investment Counsel now owns 13,975 shares of the wireless technology company’s stock valued at $2,376,000 after purchasing an additional 1,194 shares during the period. Cornerstone Advisors LLC grew its holdings in shares of QUALCOMM by 79.5% during the third quarter. Cornerstone Advisors LLC now owns 30,700 shares of the wireless technology company’s stock valued at $5,221,000 after buying an additional 13,600 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in QUALCOMM by 0.3% during the third quarter. Citizens Financial Group Inc. RI now owns 37,826 shares of the wireless technology company’s stock valued at $6,432,000 after buying an additional 120 shares during the period. Payden & Rygel raised its position in QUALCOMM by 37.4% during the third quarter. Payden & Rygel now owns 89,200 shares of the wireless technology company’s stock valued at $15,168,000 after buying an additional 24,300 shares during the period. Finally, Moran Wealth Management LLC boosted its position in QUALCOMM by 8.3% during the 3rd quarter. Moran Wealth Management LLC now owns 9,636 shares of the wireless technology company’s stock worth $1,639,000 after acquiring an additional 742 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. UBS Group increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Morgan Stanley decreased their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Stock Down 6.3 %

NASDAQ:QCOM opened at $154.27 on Thursday. The stock has a market cap of $171.39 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.77 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $168.23 and a two-hundred day moving average price of $181.93. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63.

QUALCOMM Dividend Announcement

The business 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 dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.20%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

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.