Northern Trust Corp lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 7.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 11,876,084 shares of the wireless technology company’s stock after selling 914,949 shares during the period. Northern Trust Corp owned 1.06% of QUALCOMM worth $1,413,729,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. PARK CIRCLE Co raised its stake in QUALCOMM by 66.7% during the 2nd quarter. PARK CIRCLE Co now owns 1,000 shares of the wireless technology company’s stock worth $119,000 after acquiring an additional 400 shares during the period. Osaic Holdings Inc. raised its position in shares of QUALCOMM by 81.6% during the 2nd quarter. Osaic Holdings Inc. now owns 886,817 shares of the wireless technology company’s stock valued at $59,324,000 after purchasing an additional 398,613 shares during the period. Bessemer Group Inc. lifted its stake in shares of QUALCOMM by 13.3% during the 2nd quarter. Bessemer Group Inc. now owns 45,961 shares of the wireless technology company’s stock valued at $5,470,000 after buying an additional 5,388 shares in the last quarter. Prudent Man Advisors LLC bought a new position in QUALCOMM in the 2nd quarter worth $631,000. Finally, GeoWealth Management LLC increased its stake in QUALCOMM by 33.7% in the 2nd quarter. GeoWealth Management LLC now owns 837 shares of the wireless technology company’s stock worth $100,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 71.10% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on QCOM shares. Wells Fargo & Company upped their price objective on QUALCOMM from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 12th. Evercore ISI lowered their target price on shares of QUALCOMM from $140.00 to $135.00 in a report on Thursday, October 5th. Morgan Stanley reduced their price target on shares of QUALCOMM from $129.00 to $119.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Mizuho reiterated a “buy” rating and issued a $140.00 target price on shares of QUALCOMM in a research report on Wednesday, August 23rd. Finally, Susquehanna lifted their price objective on QUALCOMM from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $137.85.
QUALCOMM Trading Down 2.1 %
QCOM stock traded down $2.74 during mid-day trading on Tuesday, reaching $126.77. The company had a trading volume of 4,203,997 shares, compared to its average volume of 8,071,946. The firm has a 50 day moving average of $113.68 and a 200 day moving average of $114.89. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.33 and a quick ratio of 1.67. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $139.94. The company has a market capitalization of $141.48 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21.
QUALCOMM Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.20 annualized dividend and a yield of 2.52%. QUALCOMM’s payout ratio is currently 49.84%.
Insiders Place Their Bets
In related news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.27, for a total value of $111,270.00. Following the completion of the sale, the insider now directly owns 5,745 shares in the company, valued at $639,246.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Monday, September 11th. The stock was sold at an average price of $111.27, for a total value of $111,270.00. Following the transaction, the insider now directly owns 5,745 shares in the company, valued at approximately $639,246.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 6,001 shares of QUALCOMM stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $110.40, for a total value of $662,510.40. Following the completion of the transaction, the insider now owns 25,229 shares in the company, valued at approximately $2,785,281.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,963 shares of company stock worth $5,377,298. 0.07% of the stock is currently owned by company insiders.
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.
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