Pitcairn Co. Has $2.06 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Pitcairn Co. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 19.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,114 shares of the wireless technology company’s stock after selling 2,872 shares during the period. Pitcairn Co.’s holdings in QUALCOMM were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the 3rd quarter valued at about $26,000. HWG Holdings LP bought a new stake in QUALCOMM in the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $32,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Finally, Aspect Partners LLC increased its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $156.79 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a price-to-earnings-growth 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 stock has a fifty day moving average of $167.82 and a 200-day moving average of $181.58.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given 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 of this dividend is Thursday, December 5th. QUALCOMM’s dividend 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.