Tranquility Partners LLC Sells 89 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Tranquility Partners LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,955 shares of the wireless technology company’s stock after selling 89 shares during the quarter. Tranquility Partners LLC’s holdings in QUALCOMM were worth $502,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the 1st quarter valued at about $1,171,516,000. Massachusetts Financial Services Co. MA boosted 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 acquiring an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC grew its holdings in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares during the period. Van ECK Associates Corp raised its position in shares of QUALCOMM by 30.2% during 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 during the last quarter. Finally, Maj Invest Holding A S acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $229,078,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.5 %

QCOM stock opened at $164.50 on Tuesday. The company has a market cap of $182.76 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The business has a 50 day moving average price of $168.42 and a two-hundred day moving average price of $182.23. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QCOM. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Benchmark reissued a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. 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, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.92.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s 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 completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 over the last quarter. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.