Sumitomo Mitsui Trust Group Inc. Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,289,764 shares of the wireless technology company’s stock after purchasing an additional 49,047 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in QUALCOMM were worth $559,424,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QCOM. Leelyn Smith LLC bought a new position in QUALCOMM in the first quarter worth approximately $208,000. Inspire Investing LLC purchased a new stake in QUALCOMM during the first quarter valued at approximately $444,000. TD Asset Management Inc boosted its stake in QUALCOMM by 15.1% in the first quarter. TD Asset Management Inc now owns 2,506,023 shares of the wireless technology company’s stock valued at $424,270,000 after acquiring an additional 328,494 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in QUALCOMM by 7.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 1,268,459 shares of the wireless technology company’s stock worth $214,750,000 after purchasing an additional 92,025 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its position in shares of QUALCOMM by 17.3% during the first quarter. Angeles Wealth Management LLC now owns 5,036 shares of the wireless technology company’s stock worth $853,000 after purchasing an additional 742 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

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 completion of the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Evercore ISI raised their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $168.29 on Tuesday. QUALCOMM Incorporated has a 1 year low of $122.63 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.78. The company has a market capitalization of $186.97 billion, a PE ratio of 18.72, a P/E/G ratio of 1.74 and a beta of 1.28. The company has a fifty day moving average of $168.39 and a two-hundred day moving average of $182.46.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 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.