QUALCOMM Incorporated (NASDAQ:QCOM) Position Trimmed by WESPAC Advisors LLC

WESPAC Advisors LLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 12,809 shares of the wireless technology company’s stock after selling 738 shares during the period. QUALCOMM accounts for about 1.6% of WESPAC Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. WESPAC Advisors LLC’s holdings in QUALCOMM were worth $2,178,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter valued at $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM in the second quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the second quarter worth about $32,000. Planning Capital Management Corp grew its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Aspect Partners LLC raised its stake in QUALCOMM by 71.8% during the 2nd 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 period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Morgan Stanley reduced their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Trading Up 0.9 %

QCOM opened at $156.79 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock’s 50 day moving average price is $167.82 and its 200-day moving average price is $181.58. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The stock has a market cap of $174.19 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.61 and a beta of 1.28.

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 paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s payout ratio is 37.82%.

Insider Transactions at QUALCOMM

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 value of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,450 shares of company stock worth $2,911,306. 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.