Catalyst Capital Advisors LLC Has $339,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Catalyst Capital Advisors LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 85.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,992 shares of the wireless technology company’s stock after selling 11,583 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in QUALCOMM were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Leelyn Smith LLC acquired a new position in shares of QUALCOMM during the first quarter worth $208,000. Embree Financial Group acquired a new position in QUALCOMM in the 1st quarter worth about $214,000. Texas Permanent School Fund Corp raised its position in QUALCOMM by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 230,687 shares of the wireless technology company’s stock valued at $39,055,000 after purchasing an additional 887 shares during the last quarter. Financial Council LLC acquired a new stake in shares of QUALCOMM during the first quarter valued at about $213,000. Finally, Advisors Capital Management LLC grew its holdings in shares of QUALCOMM by 5.1% during the first quarter. Advisors Capital Management LLC now owns 427,231 shares of the wireless technology company’s stock worth $72,330,000 after purchasing an additional 20,834 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.4 %

QCOM stock opened at $165.91 on Wednesday. The stock’s 50 day simple moving average is $168.53 and its 200 day simple moving average is $182.20. The company has a market cap of $184.82 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a fifty-two week low of $118.38 and a fifty-two week high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 44.04%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research reports. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Barclays boosted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Piper Sandler reiterated 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $207.29.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by corporate 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.