Kensington Investment Counsel LLC Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kensington Investment Counsel LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 27.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,348 shares of the wireless technology company’s stock after selling 9,131 shares during the quarter. QUALCOMM makes up about 1.7% of Kensington Investment Counsel LLC’s holdings, making the stock its 17th largest position. Kensington Investment Counsel LLC’s holdings in QUALCOMM were worth $4,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of QCOM. Massachusetts Financial Services Co. MA increased its holdings in QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after buying an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after purchasing an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp lifted its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.5 %

Shares of QCOM opened at $159.51 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1-year low of $130.39 and a 1-year high of $230.63. The company has a market capitalization of $177.22 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.73 and a beta of 1.25. The firm’s 50 day simple moving average is $165.93 and its 200 day simple moving average is $179.48.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the business’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 value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,450 shares of company stock worth $3,395,926. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.