Hudson Valley Investment Advisors Inc. ADV Sells 1,153 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hudson Valley Investment Advisors Inc. ADV cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 41.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,600 shares of the wireless technology company’s stock after selling 1,153 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in QUALCOMM were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC increased its position in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares in the last quarter. Czech National Bank raised its stake in shares of QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after purchasing an additional 13,888 shares during the period. Legal & General Group Plc lifted its holdings in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new position in shares of QUALCOMM during the second quarter worth about $1,539,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on QCOM shares. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Piper Sandler restated an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Robert W. Baird raised their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Finally, KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $207.92.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,245 shares of company stock valued at $2,395,407. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $162.77 on Friday. The company’s 50-day moving average is $168.94 and its 200-day moving average is $181.93. 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 has a market capitalization of $181.33 billion, a PE ratio of 21.08, a PEG ratio of 1.68 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $106.69 and a fifty-two week high of $230.63.

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, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Equities analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.09%. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

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.