QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by DRW Securities LLC

DRW Securities LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 35.8% in the third quarter, HoldingsChannel reports. The fund owned 5,095 shares of the wireless technology company’s stock after selling 2,847 shares during the quarter. DRW Securities LLC’s holdings in QUALCOMM were worth $866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of Hawaii increased its stake in shares of QUALCOMM by 1.3% during the 3rd quarter. Bank of Hawaii now owns 18,374 shares of the wireless technology company’s stock valued at $3,125,000 after acquiring an additional 228 shares during the last quarter. Daiwa Securities Group Inc. increased its position in QUALCOMM by 1.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 278,411 shares of the wireless technology company’s stock worth $47,344,000 after purchasing an additional 2,758 shares in the last quarter. Marco Investment Management LLC increased its position in QUALCOMM by 1.4% during the 3rd quarter. Marco Investment Management LLC now owns 196,553 shares of the wireless technology company’s stock worth $33,424,000 after purchasing an additional 2,692 shares in the last quarter. Hartford Funds Management Co LLC increased its position in QUALCOMM by 2.1% during the 3rd quarter. Hartford Funds Management Co LLC now owns 5,717 shares of the wireless technology company’s stock worth $972,000 after purchasing an additional 117 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its position in QUALCOMM by 14.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 14,787 shares of the wireless technology company’s stock worth $2,514,000 after purchasing an additional 1,909 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $158.82 on Tuesday. The stock’s fifty day moving average is $167.67 and its 200-day moving average is $181.44. The firm has a market capitalization of $176.45 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on 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 owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock valued at $2,911,306 over the last three months. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on QCOM shares. Piper Sandler reissued an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Wells Fargo & Company increased their target price 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. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.15.

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.