Quest Partners LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Quest Partners LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 32.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,337 shares of the wireless technology company’s stock after selling 640 shares during the period. Quest Partners LLC’s holdings in QUALCOMM were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. Coppell Advisory Solutions Corp. purchased a new position in QUALCOMM during the first quarter worth about $225,000. WealthPlan Investment Management LLC purchased a new position in shares of QUALCOMM during the first quarter worth about $289,000. New Covenant Trust Company N.A. purchased a new stake in QUALCOMM in the first quarter valued at approximately $134,000. Wahed Invest LLC lifted its position in QUALCOMM by 15.3% during the first quarter. Wahed Invest LLC now owns 21,965 shares of the wireless technology company’s stock valued at $3,719,000 after purchasing an additional 2,909 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in QUALCOMM during the first quarter valued at approximately $44,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $156.93 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $167.43 and its 200 day simple moving average is $181.26. The stock has a market cap of $174.35 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QCOM. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Sanford C. Bernstein upped their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley reduced their price target 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. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was 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 directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is owned by corporate 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.