Cutter & CO Brokerage Inc. Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cutter & CO Brokerage Inc. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,254 shares of the wireless technology company’s stock after selling 117 shares during the period. Cutter & CO Brokerage Inc.’s holdings in QUALCOMM were worth $213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Allspring Global Investments Holdings LLC increased its position in shares of QUALCOMM by 44.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 388,122 shares of the wireless technology company’s stock worth $65,709,000 after purchasing an additional 120,088 shares during the last quarter. Financial Sense Advisors Inc. raised its stake in QUALCOMM by 2.7% during the first quarter. Financial Sense Advisors Inc. now owns 8,399 shares of the wireless technology company’s stock valued at $1,422,000 after buying an additional 217 shares in the last quarter. Advisor Resource Council lifted its holdings in QUALCOMM by 14.8% during the 1st quarter. Advisor Resource Council now owns 7,360 shares of the wireless technology company’s stock worth $1,246,000 after buying an additional 950 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of QUALCOMM by 17.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,120 shares of the wireless technology company’s stock worth $4,422,000 after acquiring an additional 3,872 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC increased its holdings in shares of QUALCOMM by 2.1% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 5,841 shares of the wireless technology company’s stock valued at $989,000 after acquiring an additional 121 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $176.00 on Wednesday. QUALCOMM Incorporated has a 1 year low of $106.18 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a fifty day moving average price of $169.19 and a two-hundred day moving average price of $182.17. The firm has a market cap of $196.06 billion, a P/E ratio of 22.80, a PEG ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Research analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.93%. QUALCOMM’s payout ratio is currently 44.04%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on QCOM shares. Wells Fargo & Company raised their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Susquehanna dropped their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $207.92.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s 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 sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 over the last ninety days. 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.