Sompo Asset Management Co. Ltd. Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Sompo Asset Management Co. Ltd. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 51,390 shares of the wireless technology company’s stock after selling 1,806 shares during the period. QUALCOMM makes up approximately 1.4% of Sompo Asset Management Co. Ltd.’s portfolio, making the stock its 19th largest position. Sompo Asset Management Co. Ltd.’s holdings in QUALCOMM were worth $8,739,000 at the end of the most recent quarter.

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

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on QCOM shares. Evercore ISI lifted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, Barclays raised their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Trading Up 0.9 %

Shares of QCOM opened at $156.79 on Friday. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The stock has a 50-day moving average price of $167.82 and a 200 day moving average price of $181.58. 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 company has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.61 and a beta of 1.28.

QUALCOMM Announces Dividend

The firm also recently announced 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. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) 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.