QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 995,056 shares of the wireless technology company’s stock after selling 27,371 shares during the period. PNC Financial Services Group Inc.’s holdings in QUALCOMM were worth $169,209,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $30,000. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter valued at $26,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $32,000. Aspect Partners LLC increased its position in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Finally, Planning Capital Management Corp increased its position in shares of 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 during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $164.71 on Wednesday. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The business has a 50-day moving average of $168.48 and a two-hundred day moving average of $182.13. The stock has a market capitalization of $182.99 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.70 and a beta of 1.28. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid 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 2.06%. QUALCOMM’s payout ratio is presently 37.82%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QCOM. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Susquehanna decreased their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.92.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

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.