Qualcomm Incorporated $QCOM Position Increased by Vise Technologies Inc.

Key Points

• Vise Technologies increased its Qualcomm position by 6.4% in the third quarter, bringing its holdings to 81,490 shares valued at approximately $15 million. Institutional investors collectively own 74.35% of Qualcomm.
• Qualcomm shares opened at $164.79, with a market capitalization of about $176 billion. Analysts have a consensus “Hold” rating and an average price target of $205.83.
• Qualcomm declared a quarterly dividend of $0.92 per share, or $3.68 annually, representing a 2.2% yield. Insiders sold 30,258 shares worth approximately $5.7 million during the quarter under pre-arranged trading plans.

Vise Technologies Inc. lifted its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,490 shares of the wireless technology company's stock after purchasing an additional 4,879 shares during the quarter. Vise Technologies Inc.'s holdings in Qualcomm were worth $14,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Qualcomm during the 2nd quarter worth about $17,583,115,000. State Street Corp boosted its position in shares of Qualcomm by 1.3% during the 2nd quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company's stock valued at $9,750,123,000 after acquiring an additional 671,537 shares in the last quarter. Van ECK Associates Corp increased its stake in Qualcomm by 22.7% in the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company's stock valued at $3,178,872,000 after acquiring an additional 3,179,720 shares during the period. Amundi increased its stake in Qualcomm by 94.1% in the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company's stock valued at $1,884,071,000 after acquiring an additional 4,942,908 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Qualcomm in the second quarter worth about $1,523,930,000. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Qualcomm news, CEO Cristiano Amon sold 10,000 shares of the business's stock in a transaction on Friday, September 25th. The stock was sold at an average price of $200.00, for a total value of $2,000,000.00. Following the transaction, the chief executive officer owned 177,568 shares of the company's stock, valued at approximately $35,513,600. The trade was a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash Palkhiwala sold 2,500 shares of the stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $175.06, for a total value of $437,650.00. Following the sale, the executive vice president owned 20,799 shares in the company, valued at $3,641,072.94. The trade was a 10.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 30,258 shares of company stock valued at $5,727,616. Company insiders own 0.05% of the company's stock.

Qualcomm Stock Performance

NASDAQ QCOM opened at $164.79 on Monday. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92. The company has a 50 day moving average of $177.83 and a 200-day moving average of $169.44. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The firm has a market cap of $175.97 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.71 and a beta of 1.70.

Qualcomm Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm's dividend payout ratio (DPR) is currently 42.59%.

Analyst Ratings Changes

A number of brokerages have commented on QCOM. Wells Fargo & Company cut their price target on shares of Qualcomm from $265.00 to $170.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group set a $160.00 target price on Qualcomm in a report on Thursday, July 30th. Rosenblatt Securities restated a "buy" rating and set a $235.00 target price on shares of Qualcomm in a research report on Wednesday, September 9th. Benchmark decreased their price target on Qualcomm from $300.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Finally, Piper Sandler started coverage on Qualcomm in a research note on Wednesday, September 9th. They issued a "neutral" rating and a $190.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Qualcomm has a consensus rating of "Hold" and a consensus price target of $205.83.

Qualcomm Profile

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.

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