B&L Asset Management LLC Invests $632,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

B&L Asset Management LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 3,717 shares of the wireless technology company's stock, valued at approximately $632,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wedge Capital Management L L P NC increased its stake in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock valued at $60,264,000 after buying an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company's stock valued at $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Icon Wealth Advisors LLC increased its stake in shares of QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company's stock worth $5,643,000 after acquiring an additional 18,315 shares during the period. Aljian Capital Management LLC purchased a new position in QUALCOMM during the third quarter worth about $1,820,000. Finally, Czech National Bank lifted its position in QUALCOMM by 6.5% in the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock valued at $38,590,000 after purchasing an additional 13,888 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on QCOM shares. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 2nd. Morgan Stanley reduced their target price on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, Benchmark reiterated a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $210.15.

QUALCOMM Trading Up 1.4 %

Shares of QUALCOMM stock traded up $2.13 during trading hours on Friday, reaching $158.53. 6,112,016 shares of the company's stock were exchanged, compared to its average volume of 8,983,977. The firm has a market capitalization of $176.13 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.67 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 Incorporated has a 52-week low of $127.49 and a 52-week high of $230.63. The company has a fifty day moving average of $166.64 and a 200-day moving average of $180.68.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is 37.82%.

Insider Activity

In other news, insider Alexander H. Rogers sold 3,245 shares of the company's stock in a transaction on Wednesday, October 2nd. The stock was 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 directly owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 9.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 in the last 90 days. 0.08% of the stock is currently owned by insiders.

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.