QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,017 shares of the wireless technology company’s stock after selling 120 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in QUALCOMM were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QCOM. Allspring Global Investments Holdings LLC increased its position in QUALCOMM by 44.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 388,122 shares of the wireless technology company’s stock worth $65,709,000 after purchasing an additional 120,088 shares during the last quarter. Financial Sense Advisors Inc. increased its holdings in shares of QUALCOMM by 2.7% during the 1st quarter. Financial Sense Advisors Inc. now owns 8,399 shares of the wireless technology company’s stock worth $1,422,000 after buying an additional 217 shares during the last quarter. Advisor Resource Council raised its position in shares of QUALCOMM by 14.8% during the 1st quarter. Advisor Resource Council now owns 7,360 shares of the wireless technology company’s stock valued at $1,246,000 after buying an additional 950 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in QUALCOMM by 17.4% in the first quarter. First Trust Direct Indexing L.P. now owns 26,120 shares of the wireless technology company’s stock valued at $4,422,000 after acquiring an additional 3,872 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its position in QUALCOMM by 2.1% in the first quarter. Legacy Wealth Asset Management LLC now owns 5,841 shares of the wireless technology company’s stock worth $989,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $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 available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on 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 transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 completion of 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. In the last quarter, insiders sold 22,245 shares of company stock worth $3,679,407. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 2.2 %

Shares of NASDAQ QCOM opened at $176.00 on Wednesday. The business has a 50-day moving average of $169.19 and a two-hundred day moving average of $182.17. The company has a market capitalization of $196.06 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $106.18 and a 1 year 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.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.93%. QUALCOMM’s dividend payout ratio is presently 44.04%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Robert W. Baird increased their target price 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. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald dropped their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

About QUALCOMM

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.