Integrated Wealth Concepts LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Integrated Wealth Concepts LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,084 shares of the wireless technology company’s stock after selling 4,946 shares during the period. Integrated Wealth Concepts LLC’s holdings in QUALCOMM were worth $36,575,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Park Avenue Securities LLC increased its holdings in shares of QUALCOMM by 29.2% during the second quarter. Park Avenue Securities LLC now owns 33,245 shares of the wireless technology company’s stock valued at $6,622,000 after acquiring an additional 7,522 shares in the last quarter. CWM LLC lifted its stake in QUALCOMM by 24.1% during the 2nd quarter. CWM LLC now owns 121,145 shares of the wireless technology company’s stock valued at $24,130,000 after acquiring an additional 23,547 shares during the period. Thomasville National Bank boosted its holdings in QUALCOMM by 16.1% in the second quarter. Thomasville National Bank now owns 1,695 shares of the wireless technology company’s stock worth $338,000 after purchasing an additional 235 shares during the last quarter. Cullinan Associates Inc. lifted its holdings in shares of QUALCOMM by 16.2% during the 2nd quarter. Cullinan Associates Inc. now owns 18,178 shares of the wireless technology company’s stock valued at $3,621,000 after buying an additional 2,541 shares during the period. Finally, RDA Financial Network increased its position in QUALCOMM by 4.7% during the second quarter. RDA Financial Network now owns 6,232 shares of the wireless technology company’s stock valued at $1,241,000 after acquiring an additional 282 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Evercore ISI boosted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. 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 given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Stock Down 0.9 %

Shares of NASDAQ:QCOM opened at $161.60 on Tuesday. QUALCOMM Incorporated has a 12 month low of $128.03 and a 12 month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $166.64 and its two-hundred day moving average price is $180.58. The firm has a market cap of $179.54 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.67 and a beta of 1.25.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity

In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 9.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % 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 in the last 90 days. Corporate 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.