Mach 1 Financial Group LLC Has $238,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Mach 1 Financial Group LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,400 shares of the wireless technology company’s stock after selling 95 shares during the quarter. Mach 1 Financial Group LLC’s holdings in QUALCOMM were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Leelyn Smith LLC bought a new stake in QUALCOMM in the first quarter valued at approximately $208,000. WealthPLAN Partners LLC acquired a new position in shares of QUALCOMM in the 1st quarter worth approximately $228,000. Reynders McVeigh Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at $207,000. Atomi Financial Group Inc. boosted its stake in shares of QUALCOMM by 28.5% in the 1st quarter. Atomi Financial Group Inc. now owns 3,612 shares of the wireless technology company’s stock valued at $612,000 after purchasing an additional 801 shares during the last quarter. Finally, Chilton Capital Management LLC raised its stake in QUALCOMM by 32.3% during the first quarter. Chilton Capital Management LLC now owns 4,978 shares of the wireless technology company’s stock worth $843,000 after buying an additional 1,215 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on QCOM. 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 report on Wednesday, July 17th. Rosenblatt Securities boosted their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Susquehanna dropped their target price on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $212.16.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $170.91 on Friday. QUALCOMM Incorporated has a 1 year low of $119.85 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. The business has a fifty day simple moving average of $168.53 and a two-hundred day simple moving average of $182.15. The company has a market capitalization of $190.39 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.76 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. On average, analysts expect that QUALCOMM Incorporated will post 8.62 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm 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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling

In other QUALCOMM 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 sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. 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. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’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 value of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s 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 directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock valued at $2,709,186. Company insiders own 0.08% of the company’s stock.

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.