Harvest Fund Management Co. Ltd Sells 27,163 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Harvest Fund Management Co. Ltd trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 27.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 73,117 shares of the wireless technology company’s stock after selling 27,163 shares during the quarter. QUALCOMM makes up 0.7% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 24th largest holding. Harvest Fund Management Co. Ltd’s holdings in QUALCOMM were worth $12,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter worth about $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM in the second quarter worth approximately $32,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% during 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 last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on QCOM shares. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Sanford C. Bernstein boosted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $156.79 on Monday. The firm has a market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.64 and a beta of 1.28. 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 business has a 50 day simple moving average of $167.82 and a 200-day simple moving average of $181.59. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 9.15 % 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 worth $2,911,306 over the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.