QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,666 shares of the wireless technology company’s stock after selling 529 shares during the period. Larson Financial Group LLC’s holdings in QUALCOMM were worth $793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its holdings in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in QUALCOMM by 39.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after purchasing an additional 50,438 shares during the last quarter. Icon Wealth Advisors LLC lifted its holdings in QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after purchasing an additional 18,315 shares in the last quarter. Aljian Capital Management LLC acquired a new stake in QUALCOMM during the 3rd quarter worth $1,820,000. Finally, Czech National Bank grew its holdings in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after buying an additional 13,888 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM opened at $158.82 on Tuesday. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The stock has a market capitalization of $176.45 billion, a PE ratio of 17.67, a PEG ratio of 2.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a 50-day simple moving average of $167.67 and a 200-day simple moving average of $181.44.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock worth $2,911,306 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

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.