First Business Financial Services Inc. Sells 176 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

First Business Financial Services Inc. decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,791 shares of the wireless technology company’s stock after selling 176 shares during the quarter. First Business Financial Services Inc.’s holdings in QUALCOMM were worth $1,665,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Leelyn Smith LLC purchased a new position in shares of QUALCOMM in the 1st quarter worth approximately $208,000. Cumberland Partners Ltd purchased a new position in QUALCOMM during the first quarter worth approximately $1,100,000. M&G Plc acquired a new stake in shares of QUALCOMM in the first quarter valued at about $129,388,000. Pinkerton Retirement Specialists LLC boosted its stake in shares of QUALCOMM by 17.5% in the first quarter. Pinkerton Retirement Specialists LLC now owns 23,777 shares of the wireless technology company’s stock worth $4,025,000 after acquiring an additional 3,546 shares during the last quarter. Finally, AI Squared Management Ltd purchased a new stake in QUALCOMM during the 1st quarter valued at about $2,793,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 2.2 %

Shares of NASDAQ QCOM opened at $163.97 on Friday. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The firm has a market capitalization of $182.17 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $168.29 and its 200-day moving average is $182.29.

QUALCOMM Announces Dividend

The business also recently announced 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 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

QCOM has been the subject of several recent analyst reports. Robert W. Baird raised their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. Evercore ISI increased their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.92.

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.