QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,914 shares of the wireless technology company’s stock after selling 101 shares during the period. Cary Street Partners Asset Management LLC’s holdings in QUALCOMM were worth $5,937,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the third quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in QUALCOMM in the 2nd quarter valued at $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $36,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $165.18 on Tuesday. The stock has a market cap of $184.01 billion, a price-to-earnings ratio of 21.40, a P/E/G 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 1-year low of $118.38 and a 1-year high of $230.63. The stock’s 50-day moving average is $168.69 and its 200 day moving average is $182.14.

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 issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.06%. QUALCOMM’s dividend payout ratio is 44.04%.

Analyst Ratings Changes

QCOM has been the topic of several research reports. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company upped their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.92.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,146 shares of company stock valued at $2,709,186. Corporate insiders own 0.08% of the company’s stock.

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.