King Luther Capital Management Corp Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

King Luther Capital Management Corp reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 580,113 shares of the wireless technology company’s stock after selling 5,682 shares during the period. King Luther Capital Management Corp’s holdings in QUALCOMM were worth $98,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. CreativeOne Wealth LLC increased its stake in shares of QUALCOMM by 52.6% in the 1st quarter. CreativeOne Wealth LLC now owns 5,652 shares of the wireless technology company’s stock worth $957,000 after purchasing an additional 1,949 shares in the last quarter. Capital International Inc. CA increased its holdings in QUALCOMM by 13.7% in the 1st quarter. Capital International Inc. CA now owns 24,474 shares of the wireless technology company’s stock worth $4,143,000 after acquiring an additional 2,942 shares in the last quarter. Stonebridge Capital Advisors LLC raised its stake in QUALCOMM by 3.6% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 129,439 shares of the wireless technology company’s stock worth $21,914,000 after acquiring an additional 4,490 shares during the period. Matrix Capital Management Company LP purchased a new position in QUALCOMM during the first quarter valued at approximately $1,171,516,000. Finally, Hhlr Advisors LTD. bought a new position in shares of QUALCOMM in the first quarter worth approximately $508,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on QCOM shares. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Friday, August 2nd. Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Trading Down 6.3 %

NASDAQ QCOM opened at $154.27 on Thursday. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The company’s 50-day moving average price is $168.23 and its 200-day moving average price is $181.93. The stock has a market cap of $171.39 billion, a PE ratio of 17.16, a PEG ratio of 2.77 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 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 paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were 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 represents a 5.51 % decrease in their ownership of the stock. 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 firm’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.