Kanawha Capital Management LLC Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kanawha Capital Management LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,490 shares of the wireless technology company’s stock after selling 1,459 shares during the quarter. Kanawha Capital Management LLC’s holdings in QUALCOMM were worth $14,538,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the second quarter valued at about $30,000. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the 3rd quarter valued at approximately $26,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC raised its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.5 %

Shares of NASDAQ:QCOM opened at $165.27 on Monday. QUALCOMM Incorporated has a 12-month low of $114.45 and a 12-month high of $230.63. The stock’s 50-day moving average price is $168.77 and its two-hundred day moving average price is $182.12. The company has a current ratio of 2.39, a quick ratio of 1.78 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 PEG ratio of 1.63 and a beta of 1.28.

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 of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. QUALCOMM’s payout ratio is 44.04%.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on 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 directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on 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 sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,245 shares of company stock valued at $2,395,407. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research analyst reports. Susquehanna cut their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Citigroup decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

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.