Acorn Wealth Advisors LLC Sells 69 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Acorn Wealth Advisors LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,559 shares of the wireless technology company’s stock after selling 69 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in QUALCOMM were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. HWG Holdings LP acquired a new stake in QUALCOMM in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC lifted its holdings in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Finally, Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $158.82 on Tuesday. The stock has a market capitalization of $176.45 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The firm has a fifty day simple moving average of $167.67 and a 200 day simple moving average of $181.44. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research reports. DZ Bank raised 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. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.15.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were 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. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the 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 sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is owned by insiders.

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.