Ascent Group LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ascent Group LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 241.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,665 shares of the wireless technology company’s stock after acquiring an additional 6,836 shares during the period. Ascent Group LLC’s holdings in QUALCOMM were worth $1,644,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QCOM. Massachusetts Financial Services Co. MA increased its stake in QUALCOMM by 1,778.7% in 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 purchasing an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after acquiring an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares during the period. Van ECK Associates Corp lifted its holdings in shares of 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 period. Finally, Maj Invest Holding A S acquired a new stake in shares of QUALCOMM in the third quarter worth approximately $229,078,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the 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 sale, the chief technology officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on 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 directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $163.03 on Tuesday. The company has a market capitalization of $181.13 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The business has a 50 day simple moving average of $166.64 and a 200-day simple moving average of $180.58. 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 Incorporated has a twelve month low of $128.03 and a twelve month high of $230.63.

QUALCOMM Dividend Announcement

The firm 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.09%. QUALCOMM’s payout ratio is currently 37.82%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. 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. Susquehanna cut their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.15.

About QUALCOMM

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.