TIAA Trust National Association Cuts Stock Holdings in QUALCOMM Incorporated $QCOM

TIAA Trust National Association lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 69.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,840 shares of the wireless technology company’s stock after selling 106,201 shares during the quarter. TIAA Trust National Association’s holdings in QUALCOMM were worth $7,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Guinness Asset Management LTD boosted its position in shares of QUALCOMM by 11.6% during the 2nd quarter. Guinness Asset Management LTD now owns 55,410 shares of the wireless technology company’s stock valued at $8,824,000 after acquiring an additional 5,779 shares during the last quarter. CORDA Investment Management LLC. increased its position in QUALCOMM by 18.6% during the second quarter. CORDA Investment Management LLC. now owns 22,474 shares of the wireless technology company’s stock worth $3,579,000 after purchasing an additional 3,524 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in QUALCOMM by 565.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company’s stock worth $19,098,000 after purchasing an additional 105,631 shares during the period. PFG Advisors boosted its holdings in QUALCOMM by 8.0% in the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company’s stock valued at $663,000 after purchasing an additional 321 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of QUALCOMM by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company’s stock valued at $203,904,000 after buying an additional 145,509 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on QCOM. UBS Group set a $165.00 price target on shares of QUALCOMM in a research report on Monday, October 27th. Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Tuesday, October 28th. Susquehanna upped their price target on QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Mizuho cut their price objective on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.95.

QUALCOMM Trading Up 2.1%

Shares of NASDAQ QCOM opened at $180.90 on Monday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $195.19 billion, a PE ratio of 17.44, a PEG ratio of 2.59 and a beta of 1.23. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $205.95. The stock has a fifty day simple moving average of $165.85 and a 200-day simple moving average of $156.82.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.0%. QUALCOMM’s dividend payout ratio is 34.33%.

Insider Buying and Selling at QUALCOMM

In other news, CEO Cristiano R. Amon sold 150,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the sale, the chief executive officer owned 149,304 shares of the company’s stock, valued at approximately $24,718,770.24. This represents a 50.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Patricia Y. Grech sold 201 shares of QUALCOMM stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $170.00, for a total transaction of $34,170.00. Following the completion of the transaction, the chief accounting officer owned 203 shares of the company’s stock, valued at $34,510. This trade represents a 49.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 163,169 shares of company stock valued at $26,978,998 over the last three months. 0.08% of the stock is currently owned by company insiders.

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.