Empirical Finance LLC Acquires 1,105 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Empirical Finance LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,894 shares of the wireless technology company’s stock after buying an additional 1,105 shares during the quarter. Empirical Finance LLC’s holdings in QUALCOMM were worth $5,083,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC increased its position in QUALCOMM by 0.6% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 67,877 shares of the wireless technology company’s stock worth $11,542,000 after buying an additional 424 shares during the last quarter. King Wealth Management Group lifted its position in shares of QUALCOMM by 9.1% during the 3rd quarter. King Wealth Management Group now owns 1,933 shares of the wireless technology company’s stock valued at $329,000 after buying an additional 162 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of QUALCOMM by 7.9% during the 3rd quarter. CIBC Asset Management Inc now owns 385,293 shares of the wireless technology company’s stock worth $65,519,000 after acquiring an additional 28,059 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in QUALCOMM by 20.9% in the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 202,543 shares of the wireless technology company’s stock worth $34,442,000 after acquiring an additional 35,000 shares during the last quarter. Finally, Intellectus Partners LLC raised its stake in QUALCOMM by 11.4% in the 3rd quarter. Intellectus Partners LLC now owns 18,470 shares of the wireless technology company’s stock valued at $3,141,000 after acquiring an additional 1,891 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.8 %

NASDAQ QCOM opened at $162.70 on Friday. The stock’s 50-day simple moving average is $168.29 and its two-hundred day simple moving average is $182.29. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $180.76 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley reduced their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One research 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $210.92.

QUALCOMM 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.