Pekin Hardy Strauss Inc. Has $697,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Pekin Hardy Strauss Inc. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,100 shares of the wireless technology company’s stock after selling 700 shares during the period. Pekin Hardy Strauss Inc.’s holdings in QUALCOMM were worth $697,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of QUALCOMM by 1,778.7% during the 2nd 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 during the period. Pacer Advisors Inc. grew its position in QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after buying an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC increased its stake in QUALCOMM by 17,357.3% during 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 acquiring an additional 2,919,490 shares during the period. Van ECK Associates Corp raised its holdings in QUALCOMM by 30.2% in the 3rd 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 acquiring an additional 1,741,432 shares in the last quarter. Finally, Maj Invest Holding A S bought a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $229,078,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on QCOM. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. UBS Group lifted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Trading Up 0.9 %

Shares of QCOM opened at $156.79 on Monday. The stock’s fifty day simple moving average is $167.82 and its 200-day simple moving average is $181.59. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $174.19 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently announced 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. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction 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 in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock worth $2,911,306 in the last quarter. 0.08% of the stock is owned by company insiders.

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.