QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,603 shares of the wireless technology company’s stock after selling 1,870 shares during the period. Arete Wealth Advisors LLC’s holdings in QUALCOMM were worth $1,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in shares of QUALCOMM during the first quarter worth approximately $44,000. American Trust boosted its position in shares of QUALCOMM by 3.4% during the first quarter. American Trust now owns 3,330 shares of the wireless technology company’s stock worth $564,000 after buying an additional 110 shares during the period. Bright Futures Wealth Management LLC. acquired a new position in shares of QUALCOMM during the first quarter worth approximately $249,000. Transcend Capital Advisors LLC boosted its position in shares of QUALCOMM by 1.4% during the second quarter. Transcend Capital Advisors LLC now owns 12,335 shares of the wireless technology company’s stock worth $2,457,000 after buying an additional 169 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of QUALCOMM by 91.1% during the second quarter. GAMMA Investing LLC now owns 13,752 shares of the wireless technology company’s stock worth $2,739,000 after buying an additional 6,554 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $210.15.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock valued at $2,911,306 over the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Up 1.4 %

QUALCOMM stock opened at $158.53 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market capitalization of $176.13 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.63 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $127.49 and a one year high of $230.63. The company’s fifty day moving average price is $166.64 and its two-hundred day moving average price is $180.74.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

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.