Qualcomm Incorporated $QCOM Shares Bought by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer increased its Qualcomm stake by 17% in the third quarter, adding 130,386 shares to hold 895,323 shares valued at approximately $164.8 million. Institutional investors collectively own 74.35% of Qualcomm.
• Qualcomm declared a quarterly dividend of $0.92 per share, equivalent to $3.68 annually and a 2.2% yield; the payout ratio is 42.59%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $205.83 price target. Several analysts recently lowered targets, while insiders sold more than $5.7 million of stock over the past three months.

Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 17.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 895,323 shares of the wireless technology company's stock after purchasing an additional 130,386 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.08% of Qualcomm worth $164,794,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in QCOM. ABS Investment Management LLC acquired a new stake in shares of Qualcomm in the second quarter worth $34,000. ABS Direct Equity Fund LLC acquired a new stake in shares of Qualcomm in the 2nd quarter worth $34,000. Your Advocates Ltd. LLP acquired a new stake in shares of Qualcomm during the first quarter valued at about $26,000. Burk Holdings LLC boosted its holdings in Qualcomm by 191.7% during the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company's stock valued at $39,000 after acquiring an additional 138 shares during the period. Finally, Harborfront Financial Group LLC purchased a new position in Qualcomm in the second quarter worth approximately $41,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Qualcomm Stock Performance

NASDAQ:QCOM opened at $164.79 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The firm's fifty day moving average is $177.83 and its 200-day moving average is $169.44. The firm has a market cap of $175.97 billion, a P/E ratio of 19.07, a P/E/G ratio of 3.71 and a beta of 1.70.

Qualcomm Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders 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 dividend yield of 2.2%. The ex-dividend date is Thursday, December 3rd. Qualcomm's payout ratio is 42.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reduced their target price on shares of Qualcomm from $200.00 to $165.00 and set a "neutral" rating for the company in a report on Monday, July 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Qualcomm in a report on Monday, September 21st. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price target on shares of Qualcomm in a research report on Wednesday, September 9th. Arete Research upgraded Qualcomm to a "strong-buy" rating in a report on Friday, October 16th. Finally, Citigroup reduced their target price on shares of Qualcomm from $198.00 to $175.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $205.83.

Insider Activity

In other news, EVP Ann C. Chaplin sold 1,827 shares of the firm's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the sale, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. This trade represents a 6.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 208 shares of Qualcomm stock in a transaction on Monday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $35,360.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,258 shares of company stock worth $5,727,616 over the last three months. 0.05% of the stock is currently owned by insiders.

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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