Quarry LP Sells 614 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Quarry LP decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 66.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 316 shares of the wireless technology company’s stock after selling 614 shares during the quarter. Quarry LP’s holdings in QUALCOMM were worth $54,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter worth $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Planning Capital Management Corp boosted its stake 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, Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the third quarter worth about $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup decreased their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Evercore ISI upped their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company upped their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

QUALCOMM Price Performance

Shares of QCOM opened at $160.74 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a fifty-two week low of $134.07 and a fifty-two week high of $230.63. The firm has a 50-day simple moving average of $165.75 and a 200-day simple moving average of $179.03. The company has a market capitalization of $178.58 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 2.12%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,450 shares of company stock valued at $3,395,926. Company 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.