Canopy Partners LLC Sells 85 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Canopy Partners LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,820 shares of the wireless technology company’s stock after selling 85 shares during the quarter. Canopy Partners LLC’s holdings in QUALCOMM were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its stake in QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the period. Pacer Advisors Inc. raised its holdings in QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp increased its position in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S purchased a new stake in QUALCOMM in the third quarter worth about $229,078,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.9 %

Shares of NASDAQ QCOM opened at $156.79 on Friday. The stock has a market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.61 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’s 50-day moving average price is $167.82 and its 200-day moving average price is $181.57. 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 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 dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred 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 trade represents a 93.28 % 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 90 days. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research analyst reports. Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday. Citigroup cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. Finally, Rosenblatt Securities boosted 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 research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

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.