CFS Investment Advisory Services LLC Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

CFS Investment Advisory Services LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 49.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,985 shares of the wireless technology company’s stock after selling 5,929 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in QUALCOMM were worth $1,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Trust N.A. boosted its holdings in shares of QUALCOMM by 0.9% in the 3rd quarter. Raymond James Trust N.A. now owns 208,398 shares of the wireless technology company’s stock worth $35,438,000 after purchasing an additional 1,952 shares in the last quarter. 49 Wealth Management LLC boosted its holdings in QUALCOMM by 40.5% during the 3rd quarter. 49 Wealth Management LLC now owns 1,907 shares of the wireless technology company’s stock valued at $324,000 after acquiring an additional 550 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in QUALCOMM by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock valued at $1,129,640,000 after acquiring an additional 52,897 shares during the period. L & S Advisors Inc boosted its holdings in QUALCOMM by 42.0% during the 3rd quarter. L & S Advisors Inc now owns 44,461 shares of the wireless technology company’s stock valued at $7,561,000 after acquiring an additional 13,145 shares during the period. Finally, Smithfield Trust Co boosted its holdings in QUALCOMM by 5.8% during the 3rd quarter. Smithfield Trust Co now owns 4,559 shares of the wireless technology company’s stock valued at $773,000 after acquiring an additional 250 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Rosenblatt Securities increased their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM 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 of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 0.9 %

QCOM opened at $156.79 on Friday. The business has a 50 day moving average of $167.82 and a 200-day moving average of $181.57. The stock has a market cap of $174.19 billion, a PE ratio of 17.44, a PEG ratio of 2.61 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. 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 Dividend Announcement

The business 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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

QUALCOMM Company 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.