QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the third quarter, Holdings Channel.com reports. The fund owned 27,543 shares of the wireless technology company’s stock after selling 988 shares during the period. River Road Asset Management LLC’s holdings in QUALCOMM were worth $4,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC increased its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $165.91 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $184.82 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.66 and a beta of 1.28. The firm’s fifty day simple moving average is $168.53 and its 200 day simple moving average is $182.20. QUALCOMM Incorporated has a twelve month low of $118.38 and a twelve month high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. QUALCOMM’s payout ratio is 44.04%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QCOM. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Barclays lifted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities lifted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $207.29.

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.