Balboa Wealth Partners Sells 1,100 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Balboa Wealth Partners cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,912 shares of the wireless technology company’s stock after selling 1,100 shares during the period. Balboa Wealth Partners’ holdings in QUALCOMM were worth $1,175,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Leelyn Smith LLC purchased a new position in QUALCOMM in the 1st quarter valued at about $208,000. Cumberland Partners Ltd purchased a new stake in QUALCOMM in the first quarter valued at $1,100,000. M&G Plc acquired a new position in QUALCOMM in the first quarter valued at $129,388,000. Pinkerton Retirement Specialists LLC increased its stake in shares of QUALCOMM by 17.5% during the first quarter. Pinkerton Retirement Specialists LLC now owns 23,777 shares of the wireless technology company’s stock worth $4,025,000 after acquiring an additional 3,546 shares during the period. Finally, AI Squared Management Ltd purchased a new stake in shares of QUALCOMM in the first quarter valued at about $2,793,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the 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 transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock worth $2,709,186 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Stock Up 2.2 %

QUALCOMM stock opened at $163.97 on Friday. The company’s 50-day moving average price is $168.29 and its two-hundred day moving average price is $182.29. The stock has a market cap of $182.17 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.70 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.