QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,165 shares of the wireless technology company’s stock after selling 2,853 shares during the period. QUALCOMM comprises about 2.7% of Processus Wealth & Capital Management LLC’s holdings, making the stock its 15th largest position. Processus Wealth & Capital Management LLC’s holdings in QUALCOMM were worth $3,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. Wealth Quarterback LLC acquired a new position in QUALCOMM in the third quarter valued at $526,000. Assetmark Inc. grew its holdings in shares of QUALCOMM by 3.7% during the third quarter. Assetmark Inc. now owns 273,201 shares of the wireless technology company’s stock worth $46,458,000 after buying an additional 9,701 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of QUALCOMM by 1.6% during the third quarter. Verdence Capital Advisors LLC now owns 24,252 shares of the wireless technology company’s stock worth $4,124,000 after buying an additional 387 shares during the last quarter. Beta Wealth Group Inc. increased its position in QUALCOMM by 11.9% in the 3rd quarter. Beta Wealth Group Inc. now owns 9,278 shares of the wireless technology company’s stock valued at $1,578,000 after acquiring an additional 989 shares during the period. Finally, Carson Advisory Inc. raised its stake in QUALCOMM by 3.9% during the 3rd quarter. Carson Advisory Inc. now owns 2,795 shares of the wireless technology company’s stock valued at $475,000 after acquiring an additional 106 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 sale, the chief financial officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,146 shares of company stock valued at $2,709,186. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QCOM shares. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Barclays boosted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Morgan Stanley lowered their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Citigroup cut their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $212.16.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $170.91 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The business’s fifty day moving average price is $168.53 and its two-hundred day moving average price is $182.15. The stock has a market cap of $190.39 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $119.85 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, analysts forecast that QUALCOMM Incorporated will post 8.62 EPS 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 paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

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.