Harvest Fund Management Co. Ltd Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Harvest Fund Management Co. Ltd reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 27.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,117 shares of the wireless technology company’s stock after selling 27,163 shares during the quarter. QUALCOMM accounts for about 0.7% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 24th largest holding. Harvest Fund Management Co. Ltd’s holdings in QUALCOMM were worth $12,431,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the third quarter worth approximately $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the 2nd quarter valued at $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the 2nd quarter worth $32,000. Planning Capital Management Corp lifted its stake in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Finally, Aspect Partners LLC boosted its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock opened at $156.79 on Monday. The stock’s 50 day moving average is $167.82 and its 200 day moving average is $181.59. The company has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a PEG ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month 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 declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued 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 payout ratio is presently 37.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QCOM. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Citigroup lowered their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred 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 directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 5.51 % 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. 0.08% of the stock is 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.