ING Groep NV Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

ING Groep NV decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 751,163 shares of the wireless technology company’s stock after selling 62,261 shares during the period. QUALCOMM comprises about 0.7% of ING Groep NV’s holdings, making the stock its 20th largest position. ING Groep NV owned approximately 0.07% of QUALCOMM worth $127,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of QCOM. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter valued at approximately $30,000. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at $26,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter worth $32,000. Aspect Partners LLC boosted its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the last quarter. Finally, Planning Capital Management Corp grew its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Evercore ISI upped their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Finally, Rosenblatt Securities lifted their price objective on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $210.92.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 1.9 %

Shares of NASDAQ QCOM traded up $3.03 during midday trading on Thursday, hitting $163.45. 2,236,589 shares of the company traded hands, compared to its average volume of 8,996,309. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The firm has a market cap of $181.59 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.75 and a beta of 1.28. The stock has a 50-day moving average price of $168.29 and a 200 day moving average price of $182.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.