National Pension Service Buys 318,828 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

National Pension Service raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,398,469 shares of the wireless technology company’s stock after purchasing an additional 318,828 shares during the period. National Pension Service’s holdings in QUALCOMM were worth $407,860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Leelyn Smith LLC bought a new position in shares of QUALCOMM in the first quarter worth about $208,000. Whittier Trust Co. of Nevada Inc. grew its holdings in QUALCOMM by 1.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 21,150 shares of the wireless technology company’s stock valued at $3,581,000 after buying an additional 267 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in QUALCOMM by 40.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,725 shares of the wireless technology company’s stock worth $800,000 after buying an additional 1,349 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of QUALCOMM by 3.7% during the first quarter. Proficio Capital Partners LLC now owns 4,062 shares of the wireless technology company’s stock worth $688,000 after buying an additional 146 shares during the last quarter. Finally, CapWealth Advisors LLC bought a new position in QUALCOMM during the first quarter worth $212,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.8 %

NASDAQ:QCOM opened at $163.87 on Monday. The company has a market cap of $182.55 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock’s fifty day moving average price is $168.77 and its two-hundred day moving average price is $182.12. QUALCOMM Incorporated has a 52-week low of $118.38 and a 52-week high of $230.63.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is 44.04%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QCOM. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Robert W. Baird raised their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $207.92.

Insider Buying and Selling

In other QUALCOMM 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 transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,245 shares of company stock worth $2,395,407 over the last three months. 0.08% of the stock is currently owned by company insiders.

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.