QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Decreased by WP Advisors LLC

WP Advisors LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 29.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,781 shares of the wireless technology company’s stock after selling 3,232 shares during the quarter. WP Advisors LLC’s holdings in QUALCOMM were worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pine Haven Investment Counsel Inc grew its holdings in shares of QUALCOMM by 2.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after buying an additional 50 shares in the last quarter. Buffington Mohr McNeal grew its stake in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after purchasing an additional 53 shares in the last quarter. TRUE Private Wealth Advisors grew its stake in QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after purchasing an additional 57 shares in the last quarter. Macroview Investment Management LLC grew its stake in QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after purchasing an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. grew its stake in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on QCOM. Rosenblatt Securities boosted their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Finally, Citigroup reduced their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.92.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred 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 sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on 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 sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 2.1 %

QCOM stock opened at $160.50 on Monday. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63. The firm has a market cap of $178.32 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.70 and a beta of 1.28. The business’s 50 day moving average is $168.35 and its 200-day moving average is $182.34. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

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