Bridgewater Associates LP Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Bridgewater Associates LP grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1,968.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 796,997 shares of the wireless technology company’s stock after buying an additional 758,459 shares during the quarter. QUALCOMM accounts for approximately 0.8% of Bridgewater Associates LP’s holdings, making the stock its 25th biggest holding. Bridgewater Associates LP owned approximately 0.07% of QUALCOMM worth $135,529,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the third quarter valued at approximately $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter valued at $32,000. Planning Capital Management Corp lifted its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC boosted its stake in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

QCOM opened at $156.93 on Wednesday. The firm has a market capitalization of $174.35 billion, a PE ratio of 17.46, a PEG ratio of 2.67 and a beta of 1.28. 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 $125.67 and a twelve month high of $230.63. The firm’s 50-day moving average price is $167.43 and its 200 day moving average price is $181.26.

QUALCOMM Announces Dividend

The business 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 is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Citigroup decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.