StoneX Group Inc. Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

StoneX Group Inc. lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,774 shares of the wireless technology company’s stock after selling 3,839 shares during the quarter. StoneX Group Inc.’s holdings in QUALCOMM were worth $3,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in QCOM. Legal & General Group Plc boosted its holdings in shares of QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares in the last quarter. Van ECK Associates Corp lifted its position in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in QUALCOMM by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock worth $1,129,640,000 after acquiring an additional 52,897 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after purchasing an additional 173,673 shares during the period. Finally, Swiss National Bank increased its stake in shares of QUALCOMM by 0.3% during the third quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock valued at $563,274,000 after purchasing an additional 8,300 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Citigroup reduced their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up 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 stock currently has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Price Performance

NASDAQ QCOM opened at $156.79 on Friday. 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 firm has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a PEG ratio of 2.61 and a beta of 1.28. The company has a 50-day moving average price of $167.82 and a 200-day moving average price of $181.58. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63.

QUALCOMM Announces Dividend

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

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % 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, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was 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 worth $2,911,306 in the last 90 days. 0.08% of the stock is currently owned by insiders.

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.