Mutual of America Capital Management LLC Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Mutual of America Capital Management LLC lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,780 shares of the wireless technology company’s stock after selling 3,828 shares during the quarter. Mutual of America Capital Management LLC’s holdings in QUALCOMM were worth $24,110,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Matrix Capital Management Company LP purchased a new stake in QUALCOMM during the first quarter worth $1,171,516,000. Massachusetts Financial Services Co. MA raised its position in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp lifted its stake 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 worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S bought a new stake in QUALCOMM during the third quarter valued at about $229,078,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday, August 2nd. Barclays raised their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Finally, Loop Capital assumed coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.92.

QUALCOMM Trading Down 2.1 %

QUALCOMM stock opened at $160.50 on Friday. The firm has a market cap of $178.32 billion, a PE ratio of 17.85, a P/E/G ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The stock’s 50 day simple moving average is $168.35 and its two-hundred day simple moving average is $182.21. 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 Announces Dividend

The business also recently announced 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 of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the chief technology officer now owns 213,364 shares in the company, 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 SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. 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 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

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.