Bard Financial Services Inc. Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Bard Financial Services Inc. cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,875 shares of the wireless technology company’s stock after selling 10,930 shares during the period. Bard Financial Services Inc.’s holdings in QUALCOMM were worth $4,060,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in QCOM. Lantz Financial LLC purchased a new stake in shares of QUALCOMM in the 2nd quarter worth $234,000. Cornerstone Wealth Management LLC increased its stake in shares of QUALCOMM by 1.4% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 9,578 shares of the wireless technology company’s stock worth $1,908,000 after purchasing an additional 134 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of QUALCOMM by 14.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 4,124 shares of the wireless technology company’s stock worth $821,000 after purchasing an additional 532 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of QUALCOMM by 13,751.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 302,510 shares of the wireless technology company’s stock worth $60,254,000 after purchasing an additional 300,326 shares in the last quarter. Finally, Red Door Wealth Management LLC increased its stake in shares of QUALCOMM by 7.2% in the 2nd quarter. Red Door Wealth Management LLC now owns 40,961 shares of the wireless technology company’s stock worth $8,159,000 after purchasing an additional 2,754 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. JPMorgan Chase & Co. dropped their price objective 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. UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,450 shares of company stock valued at $3,395,926. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $158.10 on Wednesday. The firm has a market cap of $175.65 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The firm’s 50 day simple moving average is $165.75 and its 200-day simple moving average is $179.03. QUALCOMM Incorporated has a one year low of $134.94 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.