Cable Hill Partners LLC Acquires 1,756 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cable Hill Partners LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 46.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,575 shares of the wireless technology company’s stock after purchasing an additional 1,756 shares during the period. Cable Hill Partners LLC’s holdings in QUALCOMM were worth $948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in QCOM. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the 3rd quarter valued at $26,000. HWG Holdings LP bought a new stake in QUALCOMM in the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM during the 2nd quarter valued at approximately $32,000. Aspect Partners LLC lifted its holdings 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 buying an additional 74 shares during the period. Finally, Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the 3rd quarter valued at about $36,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $160.42 on Thursday. The company has a 50-day simple moving average of $168.39 and a two-hundred day simple moving average of $182.44. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The firm has a market cap 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 quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The business also recently declared 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. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.12%. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analyst Weigh In

Several research firms have weighed in on QCOM. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research note on Wednesday, July 17th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’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 transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was 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 related news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated 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 of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on 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 sale, the chief technology officer now owns 213,364 shares in the company, 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 have sold 16,146 shares of company stock valued at $2,709,186 in the last ninety days. Company insiders own 0.08% of the company’s stock.

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.