Rockefeller Capital Management L.P. Sells 123,408 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Rockefeller Capital Management L.P. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 27.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 331,922 shares of the wireless technology company’s stock after selling 123,408 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in QUALCOMM were worth $56,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Providence Wealth Advisors LLC boosted its position in shares of QUALCOMM by 3.3% during the third quarter. Providence Wealth Advisors LLC now owns 8,705 shares of the wireless technology company’s stock valued at $1,468,000 after buying an additional 280 shares during the last quarter. Northwest & Ethical Investments L.P. raised its holdings in shares of QUALCOMM by 304.7% during the third quarter. Northwest & Ethical Investments L.P. now owns 94,201 shares of the wireless technology company’s stock valued at $16,019,000 after purchasing an additional 70,926 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its position in QUALCOMM by 33.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 718 shares of the wireless technology company’s stock valued at $122,000 after purchasing an additional 178 shares during the period. Vinva Investment Management Ltd boosted its holdings in QUALCOMM by 16.4% in the third quarter. Vinva Investment Management Ltd now owns 53,074 shares of the wireless technology company’s stock worth $9,029,000 after purchasing an additional 7,497 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in QUALCOMM by 0.3% in the third quarter. Financial Counselors Inc. now owns 199,566 shares of the wireless technology company’s stock worth $33,936,000 after purchasing an additional 517 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on QCOM. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. Finally, UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

Insiders Place Their Bets

In other QUALCOMM news, 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 transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock valued at $2,911,306 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.4 %

Shares of QCOM opened at $158.53 on Friday. 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 stock has a market capitalization of $176.13 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.63 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $127.49 and a 1 year high of $230.63. The business’s 50 day simple moving average is $166.64 and its 200-day simple moving average is $180.74.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 annualized dividend and a yield of 2.14%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

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.