Shariaportfolio Inc. Sells 1,160 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Shariaportfolio Inc. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,412 shares of the wireless technology company’s stock after selling 1,160 shares during the quarter. QUALCOMM accounts for approximately 0.3% of Shariaportfolio Inc.’s investment portfolio, making the stock its 28th biggest position. Shariaportfolio Inc.’s holdings in QUALCOMM were worth $580,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at about $27,000. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at about $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC raised its stake in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC acquired a new position in QUALCOMM in the first quarter valued at about $37,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Susquehanna lowered their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Cantor Fitzgerald cut their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Barclays raised their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.92.

QUALCOMM Price Performance

QCOM opened at $169.01 on Tuesday. The company has a market capitalization of $188.28 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.71 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 has a 50-day moving average price of $169.24 and a 200-day moving average price of $182.25. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Equities analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is presently 44.04%.

Insider Activity

In related news, 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. 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 ninety days. Company insiders own 0.08% of the company’s stock.

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.