Thrivent Financial for Lutherans Sells 47,502 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Thrivent Financial for Lutherans decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,827,683 shares of the wireless technology company’s stock after selling 47,502 shares during the period. QUALCOMM accounts for 0.6% of Thrivent Financial for Lutherans’ portfolio, making the stock its 13th largest position. Thrivent Financial for Lutherans’ holdings in QUALCOMM were worth $310,797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Matrix Capital Management Company LP bought a new position in QUALCOMM in the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA boosted its stake in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. International Assets Investment Management LLC grew its holdings in shares of QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp increased its stake in QUALCOMM by 30.2% in the 3rd 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. Finally, Maj Invest Holding A S bought a new stake in QUALCOMM during the 3rd quarter valued at about $229,078,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $160.50 on Friday. The company’s fifty day moving average is $168.35 and its two-hundred day moving average is $182.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market capitalization of $178.32 billion, a P/E ratio of 17.85, a PEG ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Robert W. Baird increased their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Barclays raised their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Susquehanna lowered their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.92.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated 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 directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

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.