Tidal Investments LLC Sells 9,542 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Tidal Investments LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,778 shares of the wireless technology company's stock after selling 9,542 shares during the quarter. Tidal Investments LLC's holdings in QUALCOMM were worth $27,510,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Optimist Retirement Group LLC raised its stake in QUALCOMM by 4.1% during the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company's stock valued at $2,309,000 after purchasing an additional 531 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of QUALCOMM by 620.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company's stock valued at $9,466,000 after buying an additional 47,945 shares in the last quarter. World Investment Advisors LLC raised its position in QUALCOMM by 304.0% during the third quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company's stock valued at $7,680,000 after buying an additional 33,985 shares during the period. Sanctuary Advisors LLC boosted its position in QUALCOMM by 38.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 230,327 shares of the wireless technology company's stock worth $36,113,000 after acquiring an additional 63,802 shares during the period. Finally, Anchor Investment Management LLC increased its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company's stock valued at $5,901,000 after purchasing an additional 747 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,540 shares of company stock valued at $6,300,999 in the last 90 days. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, November 20th. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. TD Cowen raised shares of QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Benchmark reissued a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

QUALCOMM Trading Down 1.0 %

Shares of QUALCOMM stock traded down $1.59 during trading on Thursday, reaching $158.24. 5,787,091 shares of the company were exchanged, compared to its average volume of 8,960,022. QUALCOMM Incorporated has a twelve month low of $134.94 and a twelve month high of $230.63. The business has a 50-day moving average price of $165.39 and a 200-day moving average price of $178.52. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $175.80 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 2.67 and a beta of 1.25.

QUALCOMM Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM's dividend payout ratio is 37.82%.

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.