KCM Investment Advisors LLC Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

KCM Investment Advisors LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% during the third quarter, Holdings Channel reports. The institutional investor owned 43,105 shares of the wireless technology company’s stock after purchasing an additional 1,525 shares during the quarter. KCM Investment Advisors LLC’s holdings in QUALCOMM were worth $7,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in QCOM. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM during the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA lifted its position in shares of QUALCOMM by 1,778.7% during the 2nd 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 buying an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC lifted its position 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 valued at $499,320,000 after buying an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp lifted its position 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 valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S purchased a new stake in QUALCOMM during the 3rd quarter worth about $229,078,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 sale, the chief technology officer now 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock worth $2,709,186 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Down 0.6 %

QCOM traded down $0.91 on Friday, hitting $163.06. 1,137,659 shares of the company were exchanged, compared to its average volume of 8,982,423. The firm has a fifty day simple moving average of $168.30 and a two-hundred day simple moving average of $182.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The stock has a market capitalization of $181.16 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

The business 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 dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.09%. QUALCOMM’s payout ratio is 37.82%.

Analysts Set New Price Targets

A number of analysts recently issued reports on QCOM shares. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $210.92.

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.