Dynamic Technology Lab Private Ltd Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Dynamic Technology Lab Private Ltd lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 30.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,789 shares of the wireless technology company’s stock after selling 6,762 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in QUALCOMM were worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. 1832 Asset Management L.P. increased its position in QUALCOMM by 13.2% in the first quarter. 1832 Asset Management L.P. now owns 14,862 shares of the wireless technology company’s stock worth $2,516,000 after buying an additional 1,729 shares in the last quarter. Paloma Partners Management Co purchased a new stake in QUALCOMM in the 1st quarter worth approximately $208,000. Silvercrest Asset Management Group LLC raised its stake in QUALCOMM by 28.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 44,512 shares of the wireless technology company’s stock worth $7,536,000 after acquiring an additional 9,913 shares during the period. Waverly Advisors LLC lifted its holdings in QUALCOMM by 209.4% during the first quarter. Waverly Advisors LLC now owns 25,116 shares of the wireless technology company’s stock valued at $4,252,000 after purchasing an additional 16,998 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of QUALCOMM by 2.3% in the first quarter. Janus Henderson Group PLC now owns 1,479,809 shares of the wireless technology company’s stock worth $250,488,000 after purchasing an additional 33,974 shares during the period. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on QCOM shares. Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the 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 approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $156.79 on Monday. The stock has a market cap of $174.19 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a 50 day moving average price of $167.82 and a 200-day moving average price of $181.59. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.