Concord Asset Management LLC VA Sells 5,295 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Concord Asset Management LLC VA cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 80.0% during the 3rd quarter, Holdings Channel reports. The fund owned 1,321 shares of the wireless technology company’s stock after selling 5,295 shares during the period. Concord Asset Management LLC VA’s holdings in QUALCOMM were worth $225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Legal & General Group Plc grew its holdings in shares of QUALCOMM by 0.9% during 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 buying an additional 86,195 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM during the first quarter valued at about $1,171,516,000. Dimensional Fund Advisors LP grew its holdings in shares of QUALCOMM by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after buying an additional 173,673 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of QUALCOMM by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,289,764 shares of the wireless technology company’s stock valued at $559,424,000 after buying an additional 49,047 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $160.50 on Friday. The company’s 50 day moving average is $168.35 and its 200-day moving average is $182.21. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. 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 $178.32 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.12%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s 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 transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,146 shares of company stock valued at $2,709,186. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Evercore ISI boosted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Barclays boosted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.92.

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.