Archer Investment Corp Sells 1,824 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Archer Investment Corp decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 61.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,125 shares of the wireless technology company’s stock after selling 1,824 shares during the quarter. Archer Investment Corp’s holdings in QUALCOMM were worth $191,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter valued at $26,000. HWG Holdings LP bought a new position in QUALCOMM in the second quarter worth approximately $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $32,000. Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Aspect Partners LLC lifted its stake in shares of 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 buying an additional 74 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $160.50 on Friday. The firm’s 50 day moving average is $168.35 and its 200 day moving average is $182.10. The stock has a market capitalization of $178.32 billion, a P/E ratio of 17.85, a PEG ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Susquehanna lowered their target price on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a report on Monday, October 21st. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Barclays boosted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.