Redwood Grove Capital LLC Purchases 24,606 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Redwood Grove Capital LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,206 shares of the wireless technology company’s stock after acquiring an additional 24,606 shares during the period. QUALCOMM comprises about 4.8% of Redwood Grove Capital LLC’s portfolio, making the stock its 11th biggest position. Redwood Grove Capital LLC’s holdings in QUALCOMM were worth $17,550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc grew its position in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after acquiring an additional 498,284 shares during the last quarter. Van ECK Associates Corp grew its position in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in QUALCOMM by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock worth $1,129,640,000 after purchasing an additional 52,897 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after buying an additional 173,673 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.5 %

Shares of QUALCOMM stock opened at $163.34 on Thursday. The company has a market capitalization of $181.47 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The stock has a fifty day simple moving average of $166.39 and a 200 day simple moving average of $180.03. QUALCOMM Incorporated has a 12-month low of $128.95 and a 12-month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

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 issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. One 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.15.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly 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 legal filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on 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 directly owns 213,364 shares in the company, 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 valued at $2,911,306 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.