Alterna Wealth Management Inc. Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Alterna Wealth Management Inc. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,274 shares of the wireless technology company’s stock after selling 175 shares during the quarter. Alterna Wealth Management Inc.’s holdings in QUALCOMM were worth $217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. Legal & General Group Plc increased its stake in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. Matrix Capital Management Company LP purchased a new stake in QUALCOMM during the first quarter valued at $1,171,516,000. Dimensional Fund Advisors LP lifted its holdings in QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after acquiring an additional 173,673 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position 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 purchasing an additional 3,047,947 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM 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 owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their position. The sale 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 firm’s stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $165.18 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12 month low of $118.38 and a 12 month high of $230.63. The company has a market capitalization of $184.01 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.66 and a beta of 1.28. The firm’s 50-day moving average is $168.69 and its 200 day moving average is $182.14.

QUALCOMM Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is presently 44.04%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QCOM. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Wells Fargo & Company boosted their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Robert W. Baird raised their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $207.92.

About QUALCOMM

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.