Payden & Rygel Investment Group Acquires New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Payden & Rygel Investment Group purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,600 shares of the wireless technology company’s stock, valued at approximately $844,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Moneta Group Investment Advisors LLC raised its stake in QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after buying an additional 24,566,978 shares during the period. Norges Bank bought a new position in shares of QUALCOMM during the fourth quarter worth approximately $1,467,351,000. Cowa LLC bought a new position in shares of QUALCOMM during the first quarter worth approximately $94,000. Morgan Stanley increased its stake in shares of QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after purchasing an additional 3,929,586 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of QUALCOMM by 409.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,011,105 shares of the wireless technology company’s stock worth $331,039,000 after purchasing an additional 2,419,686 shares during the period. Institutional investors own 71.10% of the company’s stock.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 10,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $120.11, for a total transaction of $1,201,100.00. Following the completion of the sale, the chief technology officer now directly owns 243,795 shares in the company, valued at $29,282,217.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CTO James H. Thompson sold 10,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $120.11, for a total value of $1,201,100.00. Following the completion of the transaction, the chief technology officer now directly owns 243,795 shares of the company’s stock, valued at $29,282,217.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $124.00, for a total transaction of $124,000.00. Following the completion of the transaction, the insider now directly owns 3,745 shares of the company’s stock, valued at $464,380. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,198 shares of company stock worth $3,077,790. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on QCOM shares. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Friday, November 3rd. Piper Sandler increased their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. KeyCorp raised their target price on QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Rosenblatt Securities raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. reduced their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $148.71.

Get Our Latest Stock Report on QCOM

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $1.10 during trading on Tuesday, hitting $142.93. The stock had a trading volume of 1,009,633 shares, compared to its average volume of 9,204,504. The firm has a market cap of $159.51 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 2.05 and a beta of 1.42. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $157.98. The business’s 50-day moving average is $141.00 and its 200 day moving average is $124.56. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Thursday, February 29th will be given a $0.80 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 2.24%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

About QUALCOMM

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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