Tranquility Partners LLC Has $502,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Tranquility Partners LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,955 shares of the wireless technology company’s stock after selling 89 shares during the quarter. Tranquility Partners LLC’s holdings in QUALCOMM were worth $502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Reston Wealth Management LLC acquired a new position in QUALCOMM in the 3rd quarter valued at $26,000. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the second quarter worth $32,000. Planning Capital Management Corp increased its holdings in QUALCOMM by 137.3% in the 3rd 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 in the last quarter. Finally, Aspect Partners LLC boosted its position in 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 buying an additional 74 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 over the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $164.50 on Tuesday. The firm has a 50-day moving average price of $168.42 and a 200-day moving average price of $182.23. The firm has a market capitalization of $182.76 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Wells Fargo & Company boosted 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. Barclays raised their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently 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.