Oppenheimer & Co. Inc. Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Oppenheimer & Co. Inc. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,656 shares of the wireless technology company’s stock after selling 21,743 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in QUALCOMM were worth $18,987,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in QCOM. Leelyn Smith LLC purchased a new position in shares of QUALCOMM in the first quarter worth $208,000. Inspire Investing LLC purchased a new position in shares of QUALCOMM in the first quarter worth $444,000. D Orazio & Associates Inc. lifted its holdings in shares of QUALCOMM by 24.4% in the first quarter. D Orazio & Associates Inc. now owns 1,916 shares of the wireless technology company’s stock worth $324,000 after buying an additional 376 shares in the last quarter. TBH Global Asset Management LLC lifted its holdings in shares of QUALCOMM by 4.1% in the first quarter. TBH Global Asset Management LLC now owns 6,794 shares of the wireless technology company’s stock worth $1,150,000 after buying an additional 266 shares in the last quarter. Finally, Ledyard National Bank purchased a new position in shares of QUALCOMM in the first quarter worth $232,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.1 %

Shares of QCOM stock traded down $1.72 during mid-day trading on Wednesday, hitting $161.69. 492,967 shares of the stock traded hands, compared to its average volume of 8,993,268. The stock has a market cap of $179.64 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.01 and a beta of 1.28. The stock’s fifty day moving average is $168.39 and its two-hundred day moving average is $182.44. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Dividend Announcement

The business also recently announced 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QCOM. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Rosenblatt Securities upped their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. 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 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 price target of $210.92.

Insider Buying and Selling

In related 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 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 $1,981,875.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 in the last three months. Corporate insiders own 0.08% of the company’s stock.

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.