Catalyst Capital Advisors LLC Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Catalyst Capital Advisors LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 85.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,992 shares of the wireless technology company’s stock after selling 11,583 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in QUALCOMM were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Matrix Capital Management Company LP bought a new stake in QUALCOMM in the 1st quarter valued at about $1,171,516,000. Massachusetts Financial Services Co. MA increased its stake in shares of QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp raised its position in shares of QUALCOMM by 30.2% in the third 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 purchasing an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $229,078,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM opened at $165.91 on Wednesday. The stock has a market capitalization of $184.82 billion, a P/E ratio of 21.49, a PEG ratio of 1.66 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12-month low of $118.38 and a 12-month high of $230.63. The stock has a 50-day moving average price of $168.53 and a 200-day moving average price of $182.20.

QUALCOMM Dividend Announcement

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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 44.04%.

Insiders Place Their Bets

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM 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 completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna reduced their price target on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft increased their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.29.

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.