Allspring Global Investments Holdings LLC Has $82.14 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Allspring Global Investments Holdings LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 24.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 483,029 shares of the wireless technology company’s stock after acquiring an additional 94,169 shares during the period. Allspring Global Investments Holdings LLC’s holdings in QUALCOMM were worth $82,139,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth $27,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the second quarter valued at about $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC raised its holdings in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of QUALCOMM in the first quarter valued at about $37,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Citigroup lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $208.75.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $170.92 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $190.75 billion, a PE ratio of 22.97, a P/E/G ratio of 1.79 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a 50-day moving average price of $169.11 and a two-hundred day moving average price of $182.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

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.