Commonwealth Equity Services LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Commonwealth Equity Services LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 589,287 shares of the wireless technology company’s stock after selling 35,034 shares during the quarter. Commonwealth Equity Services LLC owned 0.05% of QUALCOMM worth $100,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at QUALCOMM

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 value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a 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 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 sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. 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 22,245 shares of company stock worth $3,679,407 over the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.1 %

NASDAQ QCOM traded down $0.18 during mid-day trading on Friday, reaching $170.92. The stock had a trading volume of 6,432,721 shares, compared to its average volume of 9,047,298. The stock has a market cap of $190.40 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.79 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. 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 company has a fifty day moving average price of $169.11 and a 200 day moving average price of $182.12.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

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 1.99%. QUALCOMM’s payout ratio is 44.04%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QCOM. Susquehanna lifted their price objective on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.75.

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.