QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,111 shares of the wireless technology company’s stock after selling 423 shares during the quarter. QUALCOMM accounts for 2.5% of Tandem Capital Management Corp ADV’s holdings, making the stock its 9th biggest holding. Tandem Capital Management Corp ADV’s holdings in QUALCOMM were worth $4,590,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its holdings in shares of QUALCOMM by 3.3% during the third quarter. Ballentine Partners LLC now owns 25,662 shares of the wireless technology company’s stock worth $4,364,000 after purchasing an additional 824 shares during the period. Garrison Point Advisors LLC grew its position in QUALCOMM by 2.3% during the third quarter. Garrison Point Advisors LLC now owns 6,760 shares of the wireless technology company’s stock worth $1,150,000 after buying an additional 150 shares in the last quarter. Busey Bank increased its stake in QUALCOMM by 2.3% during the 3rd quarter. Busey Bank now owns 155,336 shares of the wireless technology company’s stock worth $26,415,000 after acquiring an additional 3,534 shares during the period. Silver Oak Securities Incorporated raised its holdings in QUALCOMM by 196.8% in the 3rd quarter. Silver Oak Securities Incorporated now owns 8,796 shares of the wireless technology company’s stock valued at $1,496,000 after acquiring an additional 5,832 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its holdings in shares of QUALCOMM by 4.0% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 7,602 shares of the wireless technology company’s stock worth $1,293,000 after purchasing an additional 293 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 2.3 %

QUALCOMM stock traded up $3.84 during trading hours on Friday, reaching $171.94. 566,405 shares of the company’s stock were exchanged, compared to its average volume of 8,972,950. The firm has a market capitalization of $191.54 billion, a PE ratio of 21.77, a PEG ratio of 1.74 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm’s 50 day simple moving average is $169.30 and its 200 day simple moving average is $182.15. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share 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 business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Research analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio is currently 44.04%.

Wall Street Analyst Weigh In

Several equities analysts have commented on QCOM shares. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Wells Fargo & Company raised their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Cantor Fitzgerald lowered their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Finally, Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.92.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $497,850.00. Following the completion of the sale, 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 ownership of the stock. The sale 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 QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,245 shares of company stock worth $3,679,407. Corporate insiders own 0.08% of the company’s stock.

About QUALCOMM

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.