Saturna Capital Corp Sells 7,780 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Saturna Capital Corp lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 50,253 shares of the wireless technology company’s stock after selling 7,780 shares during the period. Saturna Capital Corp’s holdings in QUALCOMM were worth $8,546,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in QCOM. Leelyn Smith LLC bought a new stake in shares of QUALCOMM during the first quarter worth $208,000. Inspire Investing LLC acquired a new stake in shares of QUALCOMM in the 1st quarter valued at about $444,000. D Orazio & Associates Inc. lifted its holdings in shares of QUALCOMM by 24.4% in the first quarter. D Orazio & Associates Inc. now owns 1,916 shares of the wireless technology company’s stock valued at $324,000 after purchasing an additional 376 shares in the last quarter. TBH Global Asset Management LLC boosted its position in shares of QUALCOMM by 4.1% during the first quarter. TBH Global Asset Management LLC now owns 6,794 shares of the wireless technology company’s stock worth $1,150,000 after buying an additional 266 shares during the period. Finally, Ledyard National Bank acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $232,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $162.63 on Wednesday. The company has a 50-day simple moving average of $168.39 and a two-hundred day simple moving average of $182.44. QUALCOMM Incorporated has a twelve month low of $125.67 and a twelve month high of $230.63. The stock has a market capitalization of $180.68 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. 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 this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 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 disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on QCOM shares. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday. They issued a “hold” rating and a $180.00 price target on the stock. Evercore ISI increased their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.92.

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.