Reynders McVeigh Capital Management LLC Purchases 499 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Reynders McVeigh Capital Management LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,106 shares of the wireless technology company’s stock after acquiring an additional 499 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in QUALCOMM were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Mission Creek Capital Partners Inc. boosted its position in QUALCOMM by 1.2% during the third quarter. Mission Creek Capital Partners Inc. now owns 23,215 shares of the wireless technology company’s stock valued at $3,948,000 after acquiring an additional 265 shares during the last quarter. IHT Wealth Management LLC boosted its position in QUALCOMM by 55.3% during the third quarter. IHT Wealth Management LLC now owns 30,647 shares of the wireless technology company’s stock valued at $5,176,000 after acquiring an additional 10,909 shares during the last quarter. Investmark Advisory Group LLC boosted its position in shares of QUALCOMM by 1.1% during the 3rd quarter. Investmark Advisory Group LLC now owns 29,425 shares of the wireless technology company’s stock worth $5,004,000 after purchasing an additional 306 shares in the last quarter. Investment Management Corp of Ontario boosted its position in shares of QUALCOMM by 204.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 81,618 shares of the wireless technology company’s stock worth $13,879,000 after purchasing an additional 54,821 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of QUALCOMM during the 3rd quarter worth about $75,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.5 %

QCOM opened at $163.34 on Thursday. The company has a 50 day moving average of $166.39 and a 200 day moving average of $180.03. The company has a market cap of $181.47 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $128.95 and a 12 month high of $230.63. 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 Announces Dividend

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

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,450 shares of company stock valued at $2,911,306. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on QCOM shares. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Morgan Stanley cut their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Evercore ISI increased their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target 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.