QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Lowered by Heard Capital LLC

Heard Capital LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 2nd quarter, Holdings Channel reports. The firm owned 10,688 shares of the wireless technology company’s stock after selling 250 shares during the period. QUALCOMM makes up approximately 0.1% of Heard Capital LLC’s portfolio, making the stock its 20th largest holding. Heard Capital LLC’s holdings in QUALCOMM were worth $1,272,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Stock Yards Bank & Trust Co. lifted its position in shares of QUALCOMM by 1.6% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 39,999 shares of the wireless technology company’s stock valued at $4,761,000 after acquiring an additional 638 shares in the last quarter. DCF Advisers LLC raised its stake in shares of QUALCOMM by 40.0% during the 2nd quarter. DCF Advisers LLC now owns 7,000 shares of the wireless technology company’s stock worth $833,000 after purchasing an additional 2,000 shares in the last quarter. Dearborn Partners LLC lifted its holdings in shares of QUALCOMM by 0.4% during the 2nd quarter. Dearborn Partners LLC now owns 361,703 shares of the wireless technology company’s stock valued at $43,057,000 after buying an additional 1,605 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of QUALCOMM by 65.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 826,807 shares of the wireless technology company’s stock valued at $98,190,000 after buying an additional 327,832 shares in the last quarter. Finally, Callan Capital LLC increased its holdings in QUALCOMM by 21.0% in the second quarter. Callan Capital LLC now owns 4,114 shares of the wireless technology company’s stock worth $490,000 after buying an additional 714 shares during the last quarter. 71.10% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $0.17 during trading on Monday, hitting $129.64. 2,752,585 shares of the company’s stock traded hands, compared to its average volume of 8,070,134. The company has a market cap of $144.68 billion, a PE ratio of 20.14, a PEG ratio of 1.44 and a beta of 1.21. The firm’s fifty day moving average price is $113.29 and its 200 day moving average price is $114.73. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $139.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.33 and a quick ratio of 1.67.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, November 29th. QUALCOMM’s payout ratio is 49.84%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 6,001 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $110.40, for a total value of $662,510.40. Following the sale, the insider now owns 25,229 shares in the company, valued at approximately $2,785,281.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the insider now directly owns 5,745 shares of the company’s stock, valued at approximately $639,246.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 6,001 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $110.40, for a total value of $662,510.40. Following the completion of the transaction, the insider now directly owns 25,229 shares in the company, valued at approximately $2,785,281.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,963 shares of company stock valued at $5,377,298. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QCOM. KeyCorp reiterated an “overweight” rating and issued a $145.00 price objective on shares of QUALCOMM in a report on Thursday, September 14th. Wells Fargo & Company raised their price objective on QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Tuesday, September 12th. Morgan Stanley decreased their target price on QUALCOMM from $129.00 to $119.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. JPMorgan Chase & Co. increased their price target on QUALCOMM from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Finally, Susquehanna upped their price objective on shares of QUALCOMM from $130.00 to $140.00 and gave the stock a “positive” rating in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $137.85.

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.