WP Advisors LLC Sells 3,232 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

WP Advisors LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 29.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 7,781 shares of the wireless technology company’s stock after selling 3,232 shares during the period. WP Advisors LLC’s holdings in QUALCOMM were worth $1,323,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of QCOM. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM in the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA lifted its stake in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. International Assets Investment Management LLC lifted its stake in shares of QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp lifted its stake in shares of QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $229,078,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 2.1 %

QUALCOMM stock opened at $160.50 on Monday. The stock has a 50-day simple moving average of $168.35 and a 200 day simple moving average of $182.34. 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 $178.32 billion, a P/E ratio of 17.85, a PEG ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63.

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 given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.12%. QUALCOMM’s dividend payout ratio (DPR) is presently 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 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 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 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 3.61 % 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 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on QCOM. Barclays increased their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $210.92.

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.