ING Groep NV Sells 62,261 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

ING Groep NV decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 751,163 shares of the wireless technology company’s stock after selling 62,261 shares during the period. QUALCOMM comprises 0.7% of ING Groep NV’s portfolio, making the stock its 20th largest holding. ING Groep NV’s holdings in QUALCOMM were worth $127,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Legal & General Group Plc lifted its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares during the period. Van ECK Associates Corp raised its stake in shares of 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 worth $1,250,644,000 after buying an additional 1,741,432 shares during the period. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM during the 1st quarter valued at about $1,171,516,000. Dimensional Fund Advisors LP grew its stake in shares of QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after acquiring an additional 173,673 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in QUALCOMM by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,289,764 shares of the wireless technology company’s stock worth $559,424,000 after acquiring an additional 49,047 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction 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 $8,535,970.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 in the last quarter. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Robert W. Baird increased their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Friday, August 2nd. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler reissued an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $210.92.

QUALCOMM Trading Up 1.9 %

QUALCOMM stock traded up $3.03 during midday trading on Thursday, reaching $163.45. The stock had a trading volume of 2,236,589 shares, compared to its average volume of 8,996,309. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market cap of $181.59 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The company has a fifty day moving average of $168.29 and a 200 day moving average of $182.29.

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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

QUALCOMM Company 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.