Dearborn Partners LLC Has $48.28 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Dearborn Partners LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 283,931 shares of the wireless technology company’s stock after selling 10,006 shares during the period. QUALCOMM accounts for approximately 2.0% of Dearborn Partners LLC’s investment portfolio, making the stock its 8th biggest holding. Dearborn Partners LLC’s holdings in QUALCOMM were worth $48,282,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its stake in shares of QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after buying an additional 50,438 shares during the last quarter. Czech National Bank raised its holdings in shares of 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 acquiring an additional 13,888 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. purchased a new position in shares of QUALCOMM during the second quarter valued at approximately $1,539,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction 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 in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on QCOM shares. Rosenblatt Securities upped their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday. They set a “hold” rating and a $180.00 price target on the stock. Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Price Performance

NASDAQ QCOM opened at $163.97 on Friday. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The stock has a market capitalization of $182.17 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.70 and a beta of 1.28. 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 business’s fifty day moving average price is $168.29 and its 200-day moving average price is $182.29.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. 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.