Associated Banc Corp Has $394,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Associated Banc Corp reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,319 shares of the wireless technology company’s stock after selling 140 shares during the quarter. Associated Banc Corp’s holdings in QUALCOMM were worth $394,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Private Trust Co. NA raised its position in QUALCOMM by 1.6% in the 3rd quarter. Private Trust Co. NA now owns 14,676 shares of the wireless technology company’s stock valued at $2,496,000 after purchasing an additional 235 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of QUALCOMM in the third quarter valued at about $679,000. Hancock Whitney Corp lifted its position in QUALCOMM by 7.4% during the 3rd quarter. Hancock Whitney Corp now owns 30,965 shares of the wireless technology company’s stock worth $5,266,000 after buying an additional 2,137 shares in the last quarter. Truvestments Capital LLC grew its holdings in QUALCOMM by 4.2% during the 3rd quarter. Truvestments Capital LLC now owns 33,991 shares of the wireless technology company’s stock worth $5,780,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Bank of Hawaii raised its stake in shares of QUALCOMM by 1.3% in the third quarter. Bank of Hawaii now owns 18,374 shares of the wireless technology company’s stock worth $3,125,000 after acquiring an additional 228 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $210.15.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction 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 represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $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 in the last quarter. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $158.82 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a market cap of $176.45 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. The stock’s 50-day moving average is $167.67 and its 200-day moving average is $181.44. 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 announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

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.