Garden State Investment Advisory Services LLC Sells 70 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Garden State Investment Advisory Services LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,079 shares of the wireless technology company’s stock after selling 70 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in QUALCOMM were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. HWG Holdings LP bought a new position in QUALCOMM in the second quarter worth $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the second quarter valued at $32,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Finally, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.2 %

Shares of QCOM opened at $158.53 on Friday. 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 company has a 50 day simple moving average of $164.97 and a two-hundred day simple moving average of $178.01. QUALCOMM Incorporated has a 1 year low of $134.94 and a 1 year high of $230.63. The firm has a market cap of $176.13 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QCOM. Citigroup lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,540 shares of company stock worth $6,300,999 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM 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.