Circle Wealth Management LLC Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Circle Wealth Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,102 shares of the wireless technology company’s stock after selling 174 shares during the period. Circle Wealth Management LLC’s holdings in QUALCOMM were worth $1,208,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM in the 3rd quarter valued at about $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the second quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $32,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, Aspect Partners LLC raised its position in QUALCOMM by 71.8% in 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 last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,450 shares of company stock valued at $2,911,306. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $158.53 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a fifty day moving average of $166.64 and a two-hundred day moving average of $180.74. The company has a market capitalization of $176.13 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.63 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $127.49 and a fifty-two week high of $230.63.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Analyst Ratings Changes

QCOM has been the topic of several research reports. Evercore ISI raised their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM 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.