Main Street Financial Solutions LLC Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Main Street Financial Solutions LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the 3rd quarter, Holdings Channel reports. The firm owned 5,611 shares of the wireless technology company’s stock after selling 152 shares during the quarter. Main Street Financial Solutions LLC’s holdings in QUALCOMM were worth $954,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC bought a new stake in QUALCOMM during the third quarter worth $26,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the second quarter worth $32,000. Aspect Partners LLC grew its stake in QUALCOMM by 71.8% in the 2nd 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 during the period. Finally, McClarren Financial Advisors Inc. increased its position in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QCOM. Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Loop Capital started coverage on shares of QUALCOMM in a report on Monday. They issued a “hold” rating and a $180.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.92.

QUALCOMM Price Performance

QUALCOMM stock opened at $160.42 on Thursday. The business has a 50-day simple moving average of $168.39 and a 200 day simple moving average of $182.44. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The stock has a market cap of $178.23 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.75 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 over the last three months. 0.08% of the stock is owned by corporate insiders.

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.