QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Hilton Capital Management LLC

Hilton Capital Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,184 shares of the wireless technology company’s stock after selling 190 shares during the period. Hilton Capital Management LLC’s holdings in QUALCOMM were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. CreativeOne Wealth LLC grew its position in QUALCOMM by 52.6% in the 1st quarter. CreativeOne Wealth LLC now owns 5,652 shares of the wireless technology company’s stock valued at $957,000 after buying an additional 1,949 shares during the last quarter. Capital International Inc. CA increased its stake in shares of QUALCOMM by 13.7% during the first quarter. Capital International Inc. CA now owns 24,474 shares of the wireless technology company’s stock worth $4,143,000 after acquiring an additional 2,942 shares during the period. Stonebridge Capital Advisors LLC raised its holdings in QUALCOMM by 3.6% during the first quarter. Stonebridge Capital Advisors LLC now owns 129,439 shares of the wireless technology company’s stock worth $21,914,000 after purchasing an additional 4,490 shares in the last quarter. Matrix Capital Management Company LP acquired a new stake in QUALCOMM in the first quarter valued at about $1,171,516,000. Finally, Hhlr Advisors LTD. purchased a new stake in QUALCOMM in the 1st quarter valued at approximately $508,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on QCOM shares. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. UBS Group upped their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley lowered their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Finally, Evercore ISI raised their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was 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 directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated 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 represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $154.27 on Thursday. The business has a 50-day moving average of $168.23 and a two-hundred day moving average of $181.93. The firm has a market capitalization of $171.39 billion, a PE ratio of 17.16, a P/E/G ratio of 2.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. 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. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.