Commerce Bank Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Commerce Bank raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 19.2% during the 3rd quarter, Holdings Channel reports. The firm owned 171,279 shares of the wireless technology company’s stock after buying an additional 27,549 shares during the quarter. Commerce Bank’s holdings in QUALCOMM were worth $29,126,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in QCOM. Wedge Capital Management L L P NC boosted its stake in shares of QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in QUALCOMM by 39.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares during the period. Aljian Capital Management LLC acquired a new position in QUALCOMM in the 3rd quarter worth about $1,820,000. Czech National Bank raised its holdings in QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after purchasing an additional 13,888 shares during the period. Finally, Legal & General Group Plc raised its holdings in 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. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 6.3 %

QUALCOMM stock opened at $154.27 on Thursday. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. 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 stock has a market cap of $171.39 billion, a PE ratio of 17.16, a P/E/G ratio of 2.77 and a beta of 1.28. The stock’s fifty day moving average is $168.23 and its two-hundred day moving average is $181.93.

QUALCOMM Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock worth $2,709,186 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QCOM. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Loop Capital initiated coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.