Quadrature Capital Ltd Sells 144,320 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Quadrature Capital Ltd cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 70.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,613 shares of the wireless technology company's stock after selling 144,320 shares during the quarter. Quadrature Capital Ltd's holdings in QUALCOMM were worth $10,477,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new position in QUALCOMM in the 2nd quarter worth about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter valued at $32,000. Planning Capital Management Corp increased its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC lifted its holdings in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after acquiring an additional 74 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Down 1.4 %

QCOM traded down $2.25 during trading hours on Thursday, reaching $160.24. 4,553,820 shares of the stock traded hands, compared to its average volume of 8,964,239. The firm's fifty day simple moving average is $166.39 and its two-hundred day simple moving average is $180.03. QUALCOMM Incorporated has a fifty-two week low of $129.66 and a fifty-two week high of $230.63. The company has a market cap of $178.03 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.72 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 Dividend Announcement

The company 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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, December 5th. QUALCOMM's payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on QCOM shares. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. TD Cowen upgraded shares of QUALCOMM to a "strong-buy" rating in a research report on Monday, September 16th. Finally, Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.15.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $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 can be accessed through this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now owns 32,231 shares of the company's stock, valued at $5,355,180.65. This represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,450 shares of company stock worth $2,911,306. 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.