Everett Harris & Co. CA Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Everett Harris & Co. CA lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,486 shares of the wireless technology company’s stock after selling 1,065 shares during the quarter. Everett Harris & Co. CA’s holdings in QUALCOMM were worth $5,354,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in QCOM. WFA Asset Management Corp purchased a new position in QUALCOMM during the 1st quarter valued at about $27,000. HWG Holdings LP purchased a new position in QUALCOMM during the 2nd quarter valued at about $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the 2nd quarter valued at about $32,000. Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new position in QUALCOMM during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.1 %

Shares of QCOM traded down $0.18 during mid-day trading on Friday, reaching $170.92. 6,432,721 shares of the stock traded hands, compared to its average volume of 9,047,298. The firm has a market cap of $190.40 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 1.79 and a beta of 1.28. The stock has a fifty day simple moving average of $169.11 and a 200 day simple moving average of $182.12. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Sell-side analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 44.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on QCOM shares. Susquehanna raised their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Citigroup decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $208.75.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by company insiders.

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.