BNP Paribas Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

BNP Paribas lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 57.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,330 shares of the wireless technology company’s stock after selling 17,698 shares during the quarter. BNP Paribas’ holdings in QUALCOMM were worth $2,267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Wedge Capital Management L L P NC increased its holdings in 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 worth $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake 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 worth $30,068,000 after purchasing an additional 50,438 shares in the last quarter. Icon Wealth Advisors LLC raised its position in shares of QUALCOMM by 123.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after purchasing an additional 18,315 shares during the last quarter. Aljian Capital Management LLC purchased a new position in QUALCOMM in the 3rd quarter valued at about $1,820,000. Finally, Czech National Bank boosted 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 buying an additional 13,888 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on QCOM. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Trading Down 1.2 %

Shares of QCOM stock opened at $156.93 on Wednesday. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The firm has a market cap of $174.35 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. The company has a 50-day moving average of $167.43 and a two-hundred day moving average of $181.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company’s stock.

QUALCOMM 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.