Hourglass Capital LLC Sells 595 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hourglass Capital LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,485 shares of the wireless technology company’s stock after selling 595 shares during the quarter. Hourglass Capital LLC’s holdings in QUALCOMM were worth $3,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Leelyn Smith LLC purchased a new position in QUALCOMM in the 1st quarter worth approximately $208,000. Ledyard National Bank purchased a new position in QUALCOMM in the 1st quarter worth approximately $232,000. Blair William & Co. IL raised its holdings in QUALCOMM by 1.1% in the 1st quarter. Blair William & Co. IL now owns 332,356 shares of the wireless technology company’s stock worth $56,268,000 after acquiring an additional 3,667 shares during the last quarter. Leo Wealth LLC raised its holdings in QUALCOMM by 16.7% in the 1st quarter. Leo Wealth LLC now owns 3,084 shares of the wireless technology company’s stock worth $526,000 after acquiring an additional 441 shares during the last quarter. Finally, ProVise Management Group LLC raised its holdings in QUALCOMM by 6.7% in the 1st quarter. ProVise Management Group LLC now owns 1,911 shares of the wireless technology company’s stock worth $324,000 after acquiring an additional 120 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Down 1.8 %

Shares of QUALCOMM stock opened at $160.42 on Thursday. The firm has a market cap of $178.23 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.75 and a beta of 1.28. The business has a 50-day moving average price of $168.39 and a 200-day moving average price of $182.44. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63.

QUALCOMM Announces Dividend

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 paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

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 value 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 $1,981,875.42. This trade represents a 0.00 % 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 hyperlink. In other 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 owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. 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. 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 sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 over the last 90 days. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.92.

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.