QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Decreased by Acorn Wealth Advisors LLC

Acorn Wealth Advisors LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,559 shares of the wireless technology company’s stock after selling 69 shares during the period. Acorn Wealth Advisors LLC’s holdings in QUALCOMM were worth $265,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Private Trust Co. NA raised its holdings in shares of QUALCOMM by 1.6% during the third quarter. Private Trust Co. NA now owns 14,676 shares of the wireless technology company’s stock valued at $2,496,000 after acquiring an additional 235 shares during the period. Longfellow Investment Management Co. LLC purchased a new position in QUALCOMM during the 3rd quarter worth approximately $679,000. Hancock Whitney Corp raised its stake in QUALCOMM by 7.4% during the 3rd quarter. Hancock Whitney Corp now owns 30,965 shares of the wireless technology company’s stock valued at $5,266,000 after purchasing an additional 2,137 shares during the period. Truvestments Capital LLC lifted its holdings in shares of QUALCOMM by 4.2% in the third quarter. Truvestments Capital LLC now owns 33,991 shares of the wireless technology company’s stock valued at $5,780,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Bank of Hawaii boosted its position in shares of QUALCOMM by 1.3% in the third quarter. Bank of Hawaii now owns 18,374 shares of the wireless technology company’s stock worth $3,125,000 after buying an additional 228 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.3 %

Shares of QCOM opened at $158.82 on Tuesday. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The firm has a market capitalization of $176.45 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.64 and a beta of 1.28. The company has a 50-day simple moving average of $167.67 and a 200-day simple moving average of $181.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on QCOM shares. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction dated 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 transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the company’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 value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

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.