Integrated Wealth Concepts LLC Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Integrated Wealth Concepts LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 215,084 shares of the wireless technology company's stock after selling 4,946 shares during the quarter. Integrated Wealth Concepts LLC's holdings in QUALCOMM were worth $36,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the third quarter worth about $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the second quarter valued at $32,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the third 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 last quarter. Finally, Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% in 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 during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock worth $2,911,306 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on QCOM. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a "hold" rating and a $180.00 price objective for the company. Finally, Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $210.15.

QUALCOMM Stock Down 0.3 %

Shares of QCOM stock traded down $0.45 during trading hours on Tuesday, reaching $162.58. The company had a trading volume of 6,957,283 shares, compared to its average volume of 8,993,425. The business has a fifty day simple moving average of $166.49 and a 200-day simple moving average of $180.15. QUALCOMM Incorporated has a 12 month low of $128.03 and a 12 month high of $230.63. The company has a market cap of $180.63 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, December 5th. QUALCOMM's dividend payout ratio is 37.82%.

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.