QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 852,277 shares of the wireless technology company’s stock after selling 16,099 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of QUALCOMM worth $144,930,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Qsemble Capital Management LP boosted its stake in shares of QUALCOMM by 9.4% during the 3rd quarter. Qsemble Capital Management LP now owns 19,865 shares of the wireless technology company’s stock worth $3,378,000 after acquiring an additional 1,706 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of QUALCOMM by 1.6% during the third 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 acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $679,000. Hancock Whitney Corp increased its stake in QUALCOMM by 7.4% in the 3rd quarter. Hancock Whitney Corp now owns 30,965 shares of the wireless technology company’s stock worth $5,266,000 after purchasing an additional 2,137 shares in the last quarter. Finally, Truvestments Capital LLC raised 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 buying an additional 1,380 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. UBS Group lifted their target price 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. Citigroup lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $156.93 on Wednesday. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The firm has a fifty day simple moving average of $167.43 and a 200-day simple moving average of $181.26. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $174.35 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.67 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) 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.