Qualcomm Incorporated $QCOM Stake Lifted by Capital Management Corp VA

Key Points

• Capital Management Corp VA increased its Qualcomm stake by 18.7% in the third quarter, bringing its holdings to 89,823 shares valued at approximately $16.5 million. Institutional investors collectively own 74.35% of Qualcomm.
• Qualcomm shares opened at $162.08, down 1.6%, while the company declared a quarterly dividend of $0.92 per share, representing a 2.3% annualized yield.
• Analyst sentiment remains mixed, with Qualcomm receiving an overall “Hold” rating and an average price target of $205.48; meanwhile, insiders sold about $5.7 million of stock over the past three months.

Capital Management Corp VA grew its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 18.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,823 shares of the wireless technology company's stock after buying an additional 14,135 shares during the period. Qualcomm accounts for 2.5% of Capital Management Corp VA's investment portfolio, making the stock its 15th largest holding. Capital Management Corp VA's holdings in Qualcomm were worth $16,531,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other news, EVP Ann C. Chaplin sold 1,827 shares of the company's stock in a transaction on Friday, October 16th. The shares were sold at an average price of $174.75, for a total transaction of $319,268.25. Following the transaction, the executive vice president directly owned 25,770 shares of the company's stock, valued at $4,503,307.50. This represents a 6.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the completion of the transaction, the chief accounting officer owned 208 shares of the company's stock, valued at $33,872.80. This represents a 75.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 30,258 shares of company stock worth $5,727,616. 0.05% of the stock is owned by insiders.

Qualcomm Stock Down 1.6%

QCOM opened at $162.08 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The stock has a market capitalization of $173.08 billion, a P/E ratio of 18.76, a P/E/G ratio of 4.12 and a beta of 1.65. The business has a 50 day simple moving average of $177.86 and a 200-day simple moving average of $169.42.

Qualcomm Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a $0.92 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.3%. Qualcomm's dividend payout ratio is presently 42.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer set a $200.00 price target on Qualcomm in a research note on Monday, July 27th. Cantor Fitzgerald reduced their price objective on Qualcomm from $200.00 to $165.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. UBS Group reduced their price objective on Qualcomm from $190.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Robert W. Baird set a $400.00 price objective on Qualcomm in a report on Thursday, July 30th. Finally, Evercore set a $159.00 target price on shares of Qualcomm in a research report on Thursday, July 30th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $205.48.

Qualcomm Company 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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