Coastwise Capital Group LLC Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Coastwise Capital Group LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the wireless technology company’s stock after selling 137 shares during the period. QUALCOMM accounts for 0.9% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 29th largest holding. Coastwise Capital Group LLC’s holdings in QUALCOMM were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Mather Group LLC. raised its position in QUALCOMM by 51.6% in the 2nd quarter. Mather Group LLC. now owns 20,826 shares of the wireless technology company’s stock valued at $4,148,000 after purchasing an additional 7,085 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of QUALCOMM in the second quarter valued at about $250,000. Kingswood Wealth Advisors LLC boosted its stake in shares of QUALCOMM by 30.6% during the second quarter. Kingswood Wealth Advisors LLC now owns 22,996 shares of the wireless technology company’s stock worth $4,580,000 after buying an additional 5,387 shares during the period. Astoria Portfolio Advisors LLC. increased its position in QUALCOMM by 9.5% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 6,177 shares of the wireless technology company’s stock valued at $1,230,000 after acquiring an additional 534 shares during the period. Finally, Park Avenue Securities LLC increased its position in QUALCOMM by 29.2% in the 2nd quarter. Park Avenue Securities LLC now owns 33,245 shares of the wireless technology company’s stock valued at $6,622,000 after acquiring an additional 7,522 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.4 %

QCOM opened at $158.53 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm’s fifty day moving average price is $166.64 and its 200 day moving average price is $180.58. QUALCOMM Incorporated has a 12-month low of $127.49 and a 12-month high of $230.63. The stock has a market capitalization of $176.13 billion, a PE ratio of 17.63, a P/E/G ratio of 2.67 and a beta of 1.28.

QUALCOMM Announces Dividend

The company 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on QCOM shares. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Evercore ISI boosted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 3,245 shares of the 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 completion of the transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % 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 valued at $2,911,306 in the last quarter. Company insiders own 0.08% of the company’s stock.

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.