QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Canopy Partners LLC

Canopy Partners LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,820 shares of the wireless technology company’s stock after selling 85 shares during the period. 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 and other institutional investors also recently added to or reduced their stakes in QCOM. Kingsview Wealth Management LLC lifted its stake in QUALCOMM by 21.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 51,369 shares of the wireless technology company’s stock valued at $8,735,000 after acquiring an additional 8,922 shares during the period. Cerity Partners LLC grew its stake in QUALCOMM by 25.1% in the 3rd quarter. Cerity Partners LLC now owns 530,923 shares of the wireless technology company’s stock valued at $90,283,000 after acquiring an additional 106,561 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of QUALCOMM by 11.5% during the third quarter. Great Valley Advisor Group Inc. now owns 35,539 shares of the wireless technology company’s stock worth $6,043,000 after purchasing an additional 3,657 shares in the last quarter. Certified Advisory Corp raised its position in shares of QUALCOMM by 8.5% during the 3rd quarter. Certified Advisory Corp now owns 10,023 shares of the wireless technology company’s stock worth $1,704,000 after purchasing an additional 787 shares during the last quarter. Finally, Nicolet Advisory Services LLC lifted its stake in QUALCOMM by 20.0% in the 3rd quarter. Nicolet Advisory Services LLC now owns 1,701 shares of the wireless technology company’s stock valued at $287,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on QCOM. Deutsche Bank Aktiengesellschaft raised their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Sanford C. Bernstein lifted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Price Performance

Shares of QCOM opened at $156.79 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $167.82 and its 200-day simple moving average is $181.57. The firm has a market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.61 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is currently owned by 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.