Aviance Capital Partners LLC Sells 61 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Aviance Capital Partners LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,346 shares of the wireless technology company’s stock after selling 61 shares during the quarter. Aviance Capital Partners LLC’s holdings in QUALCOMM were worth $739,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth approximately $227,000. CreativeOne Wealth LLC lifted its holdings in QUALCOMM by 52.6% during the first quarter. CreativeOne Wealth LLC now owns 5,652 shares of the wireless technology company’s stock worth $957,000 after buying an additional 1,949 shares during the period. EP Wealth Advisors LLC boosted its position in QUALCOMM by 6.6% during the 1st quarter. EP Wealth Advisors LLC now owns 75,939 shares of the wireless technology company’s stock valued at $12,856,000 after acquiring an additional 4,694 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of QUALCOMM by 0.7% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 72,483 shares of the wireless technology company’s stock valued at $12,271,000 after acquiring an additional 488 shares during the period. Finally, Capital International Inc. CA raised its position in shares of QUALCOMM by 13.7% in the 1st quarter. Capital International Inc. CA now owns 24,474 shares of the wireless technology company’s stock worth $4,143,000 after acquiring an additional 2,942 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. UBS Group lifted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Citigroup reduced their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.92.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s 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 transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 9.15 % decrease in their position. The transaction was disclosed in a document filed 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 completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 0.1 %

Shares of QCOM opened at $164.71 on Wednesday. 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 $182.99 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The firm’s fifty day moving average is $168.48 and its two-hundred day moving average is $182.13. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.06%. QUALCOMM’s dividend payout ratio is presently 37.82%.

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.