Synovus Financial Corp Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Synovus Financial Corp increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.2% in the third quarter, HoldingsChannel.com reports. The firm owned 54,680 shares of the wireless technology company’s stock after acquiring an additional 4,129 shares during the quarter. Synovus Financial Corp’s holdings in QUALCOMM were worth $9,299,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth about $26,000. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the second quarter valued at approximately $32,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $158.53 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market cap of $176.13 billion, a PE ratio of 17.63, a P/E/G ratio of 2.68 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $134.94 and a 1 year high of $230.63. The stock has a fifty day moving average price of $164.97 and a 200 day moving average price of $178.01.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,540 shares of company stock worth $6,300,999 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. Evercore ISI raised their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Susquehanna reduced their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $208.00.

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.