Janus Henderson Group PLC Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Janus Henderson Group PLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 755,105 shares of the wireless technology company’s stock after selling 154,023 shares during the period. Janus Henderson Group PLC owned approximately 0.07% of QUALCOMM worth $128,395,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lantz Financial LLC purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at $234,000. BDF Gestion purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at $5,299,000. CCM Investment Advisers LLC boosted its holdings in shares of QUALCOMM by 2.9% in the 2nd quarter. CCM Investment Advisers LLC now owns 48,882 shares of the wireless technology company’s stock valued at $9,736,000 after acquiring an additional 1,366 shares during the last quarter. Spring Capital Management LLC boosted its holdings in shares of QUALCOMM by 7.0% in the 2nd quarter. Spring Capital Management LLC now owns 53,073 shares of the wireless technology company’s stock valued at $10,571,000 after acquiring an additional 3,489 shares during the last quarter. Finally, McLean Asset Management Corp purchased a new stake in QUALCOMM during the second quarter worth $201,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.5 %

Shares of QCOM opened at $163.34 on Thursday. 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 12-month low of $128.95 and a 12-month high of $230.63. The firm has a 50-day moving average price of $166.39 and a 200 day moving average price of $180.03. The firm has a market capitalization of $181.47 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.74 and a beta of 1.25.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents 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 over the last 90 days. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

About QUALCOMM

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.