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

Circle Wealth Management LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% during the 3rd quarter, HoldingsChannel reports. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in QUALCOMM during the third quarter valued at $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter valued at about $32,000. Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Finally, Aspect Partners LLC lifted its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.4 %

QUALCOMM stock opened at $158.53 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12 month low of $127.49 and a 12 month high of $230.63. The company’s fifty day simple moving average is $166.64 and its 200-day simple moving average is $180.74. The stock has a market cap of $176.13 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.63 and a beta of 1.28.

QUALCOMM Announces Dividend

The firm also recently announced 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 is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This 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 worth $2,911,306 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. 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 research report on Tuesday, November 5th. Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. UBS Group lifted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Evercore ISI raised their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.15.

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.