Aviance Capital Partners LLC Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Aviance Capital Partners LLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,346 shares of the wireless technology company’s stock after selling 61 shares during the quarter. Aviance Capital Partners LLC’s holdings in QUALCOMM were worth $739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wedge Capital Management L L P NC boosted its holdings in QUALCOMM by 17.1% during the 3rd 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 period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of QUALCOMM by 39.9% in the third 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 in the last quarter. Aljian Capital Management LLC acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $1,820,000. Czech National Bank boosted its position in QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after buying an additional 13,888 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 9.15 % 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 valued at $2,709,186 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on QCOM shares. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Friday, August 2nd. Morgan Stanley dropped their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Citigroup cut their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.92.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $164.71 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market cap of $182.99 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company has a 50-day simple moving average of $168.48 and a 200-day simple moving average of $182.13. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is presently 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.