Strategic Investment Solutions Inc. IL Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Investment Solutions Inc. IL lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 449 shares of the wireless technology company’s stock after selling 100 shares during the quarter. Strategic Investment Solutions Inc. IL’s holdings in QUALCOMM were worth $76,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. DGS Capital Management LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $265,000. Thrive Wealth Management LLC grew its stake in QUALCOMM by 4.1% in the 1st quarter. Thrive Wealth Management LLC now owns 2,246 shares of the wireless technology company’s stock valued at $380,000 after acquiring an additional 89 shares during the last quarter. Transform Wealth LLC grew its stake in QUALCOMM by 2.3% in the 1st quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after acquiring an additional 66 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in QUALCOMM by 10.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,277 shares of the wireless technology company’s stock valued at $555,000 after acquiring an additional 319 shares during the last quarter. Finally, Artemis Investment Management LLP grew its stake in QUALCOMM by 89.7% in the 1st quarter. Artemis Investment Management LLP now owns 72,508 shares of the wireless technology company’s stock valued at $12,269,000 after acquiring an additional 34,282 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. 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 through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 over the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Up 2.6 %

Shares of QCOM stock traded up $4.33 during mid-day trading on Friday, reaching $172.43. 1,223,462 shares of the company were exchanged, compared to its average volume of 8,975,299. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. 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 company has a market capitalization of $192.09 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.74 and a beta of 1.28. The business’s 50 day simple moving average is $169.30 and its 200 day simple moving average is $182.15.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $9.23 billion. Research analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Robert W. Baird raised their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company increased their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $207.92.

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.