Portfolio Design Labs LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Cerbat Gem

Portfolio Design Labs LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,302 shares of the wireless technology company’s stock, valued at approximately $1,582,000.

A number of other large investors have also made changes to their positions in QCOM. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM during the first quarter valued at about $1,171,516,000. Massachusetts Financial Services Co. MA raised its position in shares of QUALCOMM by 1,778.7% during the second 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 buying an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of QUALCOMM by 17,357.3% during the third 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 buying an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp raised its position in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S bought a new stake in QUALCOMM in the third quarter valued at about $229,078,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was 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 in the company, 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 have sold a total of 16,146 shares of company stock valued at $2,709,186 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM stock opened at $164.71 on Wednesday. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The stock has a market cap of $182.99 billion, a PE ratio of 18.32, a PEG ratio of 2.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm’s 50 day moving average price is $168.48 and its two-hundred day moving average price is $182.13.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given 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 2.06%. QUALCOMM’s dividend payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QCOM. Citigroup lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Evercore ISI upped their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Barclays upped their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Susquehanna decreased their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.92.

Check Out Our Latest Research Report on QUALCOMM

QUALCOMM Company Profile

(Free Report)

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.

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