Verity & Verity LLC Sells 26,959 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Verity & Verity LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 33.6% in the 3rd quarter, Holdings Channel reports. The firm owned 53,276 shares of the wireless technology company’s stock after selling 26,959 shares during the quarter. Verity & Verity LLC’s holdings in QUALCOMM were worth $9,060,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the third quarter valued at $26,000. HWG Holdings LP purchased a new position in QUALCOMM during the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Planning Capital Management Corp lifted its position in shares of 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 during the period. Finally, Aspect Partners LLC boosted its stake in shares of 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 purchasing an additional 74 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 9.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 13.67 % 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 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

QCOM opened at $164.50 on Tuesday. The company has a market capitalization of $182.76 billion, a P/E ratio of 18.30, a PEG ratio of 2.70 and a beta of 1.28. The company has a 50-day moving average of $168.42 and a 200-day moving average of $182.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63.

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 given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Susquehanna reduced their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Evercore ISI raised their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Citigroup lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.