Inlet Private Wealth LLC Has $8.55 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Inlet Private Wealth LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,258 shares of the wireless technology company’s stock after selling 150 shares during the period. QUALCOMM makes up about 2.2% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 7th largest holding. Inlet Private Wealth LLC’s holdings in QUALCOMM were worth $8,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Matrix Capital Management Company LP acquired a new position in QUALCOMM during the first quarter worth $1,171,516,000. Massachusetts Financial Services Co. MA boosted its stake in shares of QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after buying an additional 3,047,947 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of QUALCOMM in the 1st quarter valued at about $238,770,000. Finally, Maj Invest Holding A S acquired a new stake in shares of QUALCOMM in the third quarter valued at about $229,078,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock worth $3,679,407 over the last three months. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent analyst reports. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Cantor Fitzgerald cut their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Barclays increased their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eleven have given 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.75.

QUALCOMM Trading Up 1.7 %

QCOM traded up $2.92 during trading on Thursday, reaching $174.40. 2,531,632 shares of the stock traded hands, compared to its average volume of 9,042,604. The stock’s 50-day moving average is $168.86 and its 200 day moving average is $182.20. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. 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 stock has a market capitalization of $194.63 billion, a PE ratio of 23.32, a P/E/G ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating 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%. Equities analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 45.70%.

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.