Patron Partners LLC Sells 113 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Patron Partners LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,177 shares of the wireless technology company’s stock after selling 113 shares during the period. Patron Partners LLC’s holdings in QUALCOMM were worth $710,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in QUALCOMM during the 3rd quarter worth about $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC increased its position in shares of QUALCOMM by 71.8% in the 2nd 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. Finally, Accordant Advisory Group Inc purchased a new position in QUALCOMM in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on QCOM shares. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. One equities research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.92.

QUALCOMM Stock Down 1.5 %

Shares of QCOM opened at $168.29 on Tuesday. QUALCOMM Incorporated has a one year low of $122.63 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.78 and a current ratio of 2.40. The stock has a 50 day moving average price of $168.39 and a 200 day moving average price of $182.46. The stock has a market capitalization of $186.97 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.74 and a beta of 1.28.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.