12,942 Shares in QUALCOMM, Inc. (QCOM) Purchased by Acadian Asset Management LLC
Acadian Asset Management LLC acquired a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,942 shares of the wireless technology company’s stock, valued at approximately $932,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MinichMacGregor Wealth Management LLC increased its stake in QUALCOMM by 170.9% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock worth $134,000 after purchasing an additional 1,167 shares during the period. Kiley Juergens Wealth Management LLC boosted its position in shares of QUALCOMM by 1,760.0% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock valued at $133,000 after purchasing an additional 1,760 shares in the last quarter. Squar Milner Financial Services LLC bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $106,000. Enterprise Financial Services Corp boosted its position in shares of QUALCOMM by 151.8% during the third quarter. Enterprise Financial Services Corp now owns 1,992 shares of the wireless technology company’s stock valued at $143,000 after purchasing an additional 1,201 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of QUALCOMM during the third quarter valued at approximately $180,000. 89.63% of the stock is currently owned by institutional investors.
QUALCOMM stock traded down $1.12 during midday trading on Friday, reaching $55.99. 17,050,288 shares of the stock traded hands, compared to its average volume of 17,492,570. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $76.50. The firm has a market cap of $69.23 billion, a PE ratio of 17.55, a PEG ratio of 1.41 and a beta of 1.66. The company has a current ratio of 1.55, a quick ratio of 1.40 and a debt-to-equity ratio of 16.56.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 dividend on an annualized basis and a yield of 4.43%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
In other news, EVP Alexander H. Rogers sold 853 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $63.50, for a total value of $54,165.50. Following the sale, the executive vice president now directly owns 4,344 shares in the company, valued at $275,844. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 854 shares of the stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $72.18, for a total value of $61,641.72. Following the completion of the sale, the executive vice president now owns 5,197 shares in the company, valued at $375,119.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,952 shares of company stock worth $7,665,408. Company insiders own 0.17% of the company’s stock.
Several research firms recently weighed in on QCOM. Rosenblatt Securities upgraded QUALCOMM from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $70.00 in a research report on Monday, August 20th. Tigress Financial reissued a “buy” rating on shares of QUALCOMM in a report on Friday, September 28th. Macquarie raised QUALCOMM from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $65.00 to $84.00 in a report on Tuesday, September 4th. KeyCorp assumed coverage on QUALCOMM in a report on Tuesday, September 25th. They issued a “sector weight” rating on the stock. Finally, BidaskClub upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $70.44.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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