Barrett & Company Inc. Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Barrett & Company Inc. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,371 shares of the wireless technology company’s stock after selling 99 shares during the quarter. Barrett & Company Inc.’s holdings in QUALCOMM were worth $743,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter valued at $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% in 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 during the period. Finally, Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock valued at $3,679,407 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on QCOM shares. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Susquehanna decreased their price target on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Robert W. Baird lifted their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Price Performance

NASDAQ QCOM traded up $2.03 during mid-day trading on Monday, hitting $172.30. The stock had a trading volume of 686,112 shares, compared to its average volume of 8,957,021. QUALCOMM Incorporated has a twelve month low of $106.18 and a twelve month 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 firm’s 50 day moving average is $169.16 and its 200 day moving average is $182.15. The stock has a market capitalization of $191.94 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities research analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 44.04%.

QUALCOMM 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.