QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 158,786 shares of the wireless technology company’s stock after selling 4,835 shares during the period. QUALCOMM makes up approximately 3.5% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 16th largest position. Minneapolis Portfolio Management Group LLC’s holdings in QUALCOMM were worth $27,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leelyn Smith LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $208,000. Mendel Money Management grew its holdings in QUALCOMM by 184.5% in the first quarter. Mendel Money Management now owns 1,360 shares of the wireless technology company’s stock valued at $230,000 after purchasing an additional 2,970 shares during the period. Pittenger & Anderson Inc. increased its position in shares of QUALCOMM by 527.8% in the first quarter. Pittenger & Anderson Inc. now owns 2,260 shares of the wireless technology company’s stock valued at $383,000 after buying an additional 1,900 shares in the last quarter. Graypoint LLC raised its stake in shares of QUALCOMM by 16.5% during the 1st quarter. Graypoint LLC now owns 6,854 shares of the wireless technology company’s stock worth $1,160,000 after buying an additional 969 shares during the period. Finally, Summit Financial Wealth Advisors LLC lifted its position in shares of QUALCOMM by 1.4% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 53,213 shares of the wireless technology company’s stock valued at $9,009,000 after buying an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.5 %

NASDAQ:QCOM traded up $2.50 on Friday, reaching $165.27. The company’s stock had a trading volume of 6,498,125 shares, compared to its average volume of 7,017,771. The stock has a 50 day moving average price of $168.77 and a 200 day moving average price of $181.99. 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 has a market cap of $184.11 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $114.45 and a 12-month high of $230.63.

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

QUALCOMM Announces Dividend

The business 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 annualized dividend and a yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Cantor Fitzgerald cut their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. Robert W. Baird raised their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.92.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,245 shares of company stock valued at $2,395,407 over the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Company 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.