Capital Management Corp VA Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Management Corp VA lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 86,439 shares of the wireless technology company’s stock after buying an additional 6,978 shares during the quarter. QUALCOMM makes up 2.6% of Capital Management Corp VA’s holdings, making the stock its 13th largest holding. Capital Management Corp VA’s holdings in QUALCOMM were worth $14,699,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Legal & General Group Plc raised its position in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after buying an additional 86,195 shares during the last quarter. Van ECK Associates Corp increased 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 purchasing an additional 1,741,432 shares during the last quarter. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $1,171,516,000. Dimensional Fund Advisors LP increased its position in shares of QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after purchasing an additional 173,673 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased 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 purchasing an additional 3,047,947 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on 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 sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $165.18 on Tuesday. The stock’s fifty day moving average is $168.69 and its 200 day moving average is $182.14. QUALCOMM Incorporated has a fifty-two week low of $118.38 and a fifty-two week high of $230.63. The firm has a market capitalization of $184.01 billion, a PE ratio of 21.40, a PEG ratio of 1.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM Announces Dividend

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 issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.06%. QUALCOMM’s payout ratio is presently 44.04%.

Wall Street Analyst Weigh In

Several research firms have recently commented on QCOM. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. cut their price objective on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

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.