QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,282 shares of the wireless technology company’s stock after selling 7,229 shares during the quarter. Mutual Advisors LLC’s holdings in QUALCOMM were worth $5,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. HWG Holdings LP purchased a new position in QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $32,000. 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 valued at $35,000 after acquiring an additional 74 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in QUALCOMM in the third quarter worth approximately $36,000. Finally, First Pacific Financial purchased a new position in QUALCOMM in the second quarter worth approximately $40,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company upped their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Susquehanna cut their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Price Performance

QUALCOMM stock opened at $176.00 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The business has a 50 day simple moving average of $169.19 and a 200-day simple moving average of $182.17. QUALCOMM Incorporated has a 12 month low of $106.18 and a 12 month high of $230.63. The stock has a market capitalization of $196.06 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

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

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.93%. QUALCOMM’s dividend payout ratio is currently 44.04%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock worth $3,679,407 over the last 90 days. Company 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.