Cigna Investments Inc. New Has $1.96 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cigna Investments Inc. New lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,521 shares of the wireless technology company’s stock after selling 164 shares during the quarter. Cigna Investments Inc. New’s holdings in QUALCOMM were worth $1,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth $26,000. HWG Holdings LP bought a new stake in QUALCOMM during the 2nd quarter worth $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the 2nd quarter worth about $32,000. Aspect Partners LLC raised its position in 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, Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the third quarter valued at about $36,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on QCOM shares. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Cantor Fitzgerald dropped their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Citigroup reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $162.77 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $168.94 and a two-hundred day simple moving average of $181.93. QUALCOMM Incorporated has a 12 month low of $106.69 and a 12 month high of $230.63. The firm has a market capitalization of $181.33 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 1.68 and a beta of 1.28.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 44.04%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was 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 owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,245 shares of company stock valued at $2,395,407 over the last ninety days. 0.08% of the stock is currently owned by insiders.

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.