Wright Investors Service Inc. Acquires 4,673 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wright Investors Service Inc. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 48.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,361 shares of the wireless technology company’s stock after buying an additional 4,673 shares during the period. Wright Investors Service Inc.’s holdings in QUALCOMM were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Legal & General Group Plc lifted its position in shares of QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM during the first quarter valued at about $1,171,516,000. Putnam Investments LLC lifted its position in shares of QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after buying an additional 1,519,781 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QCOM. Robert W. Baird raised their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. 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 report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $211.67.

QUALCOMM Trading Down 0.0 %

Shares of NASDAQ QCOM traded down $0.02 during mid-day trading on Friday, hitting $168.90. The stock had a trading volume of 6,588,668 shares, compared to its average volume of 9,162,244. The business has a 50 day moving average price of $168.00 and a two-hundred day moving average price of $182.10. The firm has a market cap of $188.49 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.86 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 Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

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.