Huntington National Bank Has $40.83 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Huntington National Bank increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 98.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 240,074 shares of the wireless technology company’s stock after acquiring an additional 119,220 shares during the period. Huntington National Bank’s holdings in QUALCOMM were worth $40,825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. Matrix Capital Management Company LP bought a new stake in QUALCOMM in the first quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA raised its stake in QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after buying an additional 3,047,947 shares during the period. International Assets Investment Management LLC raised its stake in QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after buying an additional 2,919,490 shares during the period. Van ECK Associates Corp raised its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S bought a new stake in QUALCOMM in the third quarter valued at approximately $229,078,000. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on QCOM shares. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Wednesday, July 17th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays upped their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.92.

QUALCOMM Stock Down 1.8 %

Shares of QCOM opened at $160.42 on Thursday. The stock has a market capitalization of $178.23 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The stock has a fifty day moving average of $168.39 and a 200-day moving average of $182.44.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value 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 approximately $1,981,875.42. This trade 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 16,146 shares of company stock valued at $2,709,186 in the last three months. Insiders own 0.08% of the company’s stock.

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.