Pinnacle Financial Partners Inc Acquires 3,942 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Pinnacle Financial Partners Inc increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 176,484 shares of the wireless technology company’s stock after acquiring an additional 3,942 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in QUALCOMM were worth $30,011,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Matrix Capital Management Company LP acquired a new stake in QUALCOMM during the first quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA increased its stake in QUALCOMM by 1,778.7% in the second 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 acquiring an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC raised its position in QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp lifted its stake in QUALCOMM by 30.2% during the third 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 position in shares of QUALCOMM in the 3rd quarter valued at $229,078,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 2.9 %

QCOM stock opened at $163.41 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a fifty-two week low of $122.63 and a fifty-two week high of $230.63. The stock’s 50 day simple moving average is $168.39 and its 200 day simple moving average is $182.44. The company has a market cap of $181.55 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity at QUALCOMM

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

Analysts Set New Price Targets

Several brokerages have commented on QCOM. Evercore ISI boosted their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Rosenblatt Securities raised their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Loop Capital started coverage on QUALCOMM in a research note on Monday. They issued a “hold” rating and a $180.00 price target for the company. Finally, Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have assigned 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.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

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.