STF Management LP Sells 1,471 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

STF Management LP trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.3% in the third quarter, Holdings Channel reports. The firm owned 16,262 shares of the wireless technology company’s stock after selling 1,471 shares during the quarter. QUALCOMM comprises approximately 1.2% of STF Management LP’s investment portfolio, making the stock its 19th biggest position. STF Management LP’s holdings in QUALCOMM were worth $2,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of QCOM. Massachusetts Financial Services Co. MA grew its stake in 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 valued at $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Pacer Advisors Inc. grew its stake in QUALCOMM by 1,702.6% in the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC grew its stake in 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 in the last quarter. Van ECK Associates Corp grew its stake in 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 in the last quarter. Finally, Maj Invest Holding A S acquired a new stake in shares of QUALCOMM in the third quarter valued at approximately $229,078,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s 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 transaction, the insider now directly owns 32,231 shares in the company, 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 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.7 %

Shares of QCOM opened at $155.42 on Friday. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The business’s fifty day moving average is $168.04 and its 200-day moving average is $181.75. 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 firm has a market cap of $172.67 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 2.77 and a beta of 1.28.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 annualized dividend and a dividend yield of 2.19%. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on QCOM. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Evercore ISI raised their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

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.