Penserra Capital Management LLC Sells 128,005 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Penserra Capital Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 79.8% during the 3rd quarter, Holdings Channel reports. The fund owned 32,389 shares of the wireless technology company’s stock after selling 128,005 shares during the period. Penserra Capital Management LLC’s holdings in QUALCOMM were worth $5,506,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of QCOM. Algert Global LLC increased its position in QUALCOMM by 1,748.8% in the 3rd quarter. Algert Global LLC now owns 33,944 shares of the wireless technology company’s stock valued at $5,772,000 after buying an additional 32,108 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of QUALCOMM by 21.0% during the third quarter. Kingsview Wealth Management LLC now owns 51,369 shares of the wireless technology company’s stock valued at $8,735,000 after acquiring an additional 8,922 shares in the last quarter. Cerity Partners LLC raised its position in shares of QUALCOMM by 25.1% during the third quarter. Cerity Partners LLC now owns 530,923 shares of the wireless technology company’s stock worth $90,283,000 after purchasing an additional 106,561 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of QUALCOMM by 11.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 35,539 shares of the wireless technology company’s stock worth $6,043,000 after purchasing an additional 3,657 shares in the last quarter. Finally, Certified Advisory Corp grew its position in QUALCOMM by 8.5% in the 3rd quarter. Certified Advisory Corp now owns 10,023 shares of the wireless technology company’s stock valued at $1,704,000 after purchasing an additional 787 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on QCOM. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. UBS Group raised their price target 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. Evercore ISI boosted their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Price Performance

NASDAQ QCOM opened at $156.79 on Monday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market cap of $174.19 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The firm’s 50-day simple moving average is $167.82 and its two-hundred day simple moving average is $181.59.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Activity at QUALCOMM

In related news, 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 value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,450 shares of company stock worth $2,911,306. Corporate insiders own 0.08% of the company’s stock.

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.