Pekin Hardy Strauss Inc. Sells 700 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Pekin Hardy Strauss Inc. lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,100 shares of the wireless technology company’s stock after selling 700 shares during the period. Pekin Hardy Strauss Inc.’s holdings in QUALCOMM were worth $697,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. 1832 Asset Management L.P. boosted its position in shares of QUALCOMM by 13.2% during the first quarter. 1832 Asset Management L.P. now owns 14,862 shares of the wireless technology company’s stock worth $2,516,000 after buying an additional 1,729 shares during the period. Paloma Partners Management Co bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $208,000. Silvercrest Asset Management Group LLC raised its holdings in shares of QUALCOMM by 28.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 44,512 shares of the wireless technology company’s stock valued at $7,536,000 after purchasing an additional 9,913 shares during the last quarter. Waverly Advisors LLC boosted its holdings in QUALCOMM by 209.4% during the first quarter. Waverly Advisors LLC now owns 25,116 shares of the wireless technology company’s stock worth $4,252,000 after purchasing an additional 16,998 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in QUALCOMM by 2.3% in the first quarter. Janus Henderson Group PLC now owns 1,479,809 shares of the wireless technology company’s stock valued at $250,488,000 after purchasing an additional 33,974 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Morgan Stanley lowered their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $156.79 on Monday. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The firm has a 50-day moving average price of $167.82 and a two-hundred day moving average price of $181.59. The company has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.64 and a beta of 1.28. 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. 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 currently 37.82%.

Insiders Place Their Bets

In related 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 value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock worth $2,911,306 in the last 90 days. Company insiders own 0.08% of the company’s stock.

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.