ARGA Investment Management LP Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

ARGA Investment Management LP raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,338 shares of the wireless technology company’s stock after purchasing an additional 1,001 shares during the period. ARGA Investment Management LP’s holdings in QUALCOMM were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the second quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $32,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, Aspect Partners LLC boosted its stake in 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 period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.4 %

NASDAQ:QCOM opened at $158.53 on Friday. The company has a market capitalization of $176.13 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $127.49 and a 52-week high of $230.63. The stock has a fifty day simple moving average of $166.64 and a 200-day simple moving average of $180.68. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analysts Set New Price Targets

A number of research analysts have commented on QCOM shares. Susquehanna dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.15.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated 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 sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock worth $2,911,306 over the last ninety days. 0.08% of the stock is currently owned by insiders.

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.