QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Reduced by STF Management LP

STF Management LP reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,262 shares of the wireless technology company’s stock after selling 1,471 shares during the period. QUALCOMM comprises about 1.2% of STF Management LP’s holdings, making the stock its 19th largest position. STF Management LP’s holdings in QUALCOMM were worth $2,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth approximately $26,000. HWG Holdings LP bought a new stake in QUALCOMM in the second quarter valued at $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter valued at $32,000. Planning Capital Management Corp grew its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, Aspect Partners LLC grew its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.7 %

Shares of QUALCOMM stock opened at $155.42 on Friday. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The business has a 50-day moving average of $168.04 and a two-hundred day moving average of $181.75. The company has a market capitalization of $172.67 billion, a P/E ratio of 17.29, a price-to-earnings-growth 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 Dividend Announcement

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 dividend yield of 2.19%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Wednesday. Morgan Stanley decreased their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Friday, August 2nd. Finally, Rosenblatt Securities increased their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 of the company’s stock, valued at approximately $8,535,970.15. The trade was a 5.51 % 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 over the last ninety days. 0.08% of the stock is currently 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.