QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,892 shares of the wireless technology company’s stock after selling 66 shares during the quarter. Cullen Investment Group LTD.’s holdings in QUALCOMM were worth $1,852,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quent Capital LLC grew its position in shares of QUALCOMM by 18.9% in the third quarter. Quent Capital LLC now owns 5,368 shares of the wireless technology company’s stock valued at $913,000 after purchasing an additional 854 shares during the period. Harbor Investment Advisory LLC raised its stake in QUALCOMM by 3.7% in the 3rd quarter. Harbor Investment Advisory LLC now owns 8,524 shares of the wireless technology company’s stock valued at $1,450,000 after purchasing an additional 308 shares during the last quarter. Goelzer Investment Management Inc. lifted its holdings in QUALCOMM by 0.5% in the 3rd quarter. Goelzer Investment Management Inc. now owns 110,118 shares of the wireless technology company’s stock valued at $18,726,000 after purchasing an additional 499 shares in the last quarter. Thrive Wealth Management LLC grew its holdings in shares of QUALCOMM by 16.5% during the third quarter. Thrive Wealth Management LLC now owns 2,719 shares of the wireless technology company’s stock worth $462,000 after buying an additional 385 shares in the last quarter. Finally, HBW Advisory Services LLC raised its position in shares of QUALCOMM by 11.4% in the third quarter. HBW Advisory Services LLC now owns 1,879 shares of the wireless technology company’s stock valued at $320,000 after buying an additional 192 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.0 %

NASDAQ:QCOM traded down $0.02 during trading hours on Friday, hitting $168.90. The company’s stock had a trading volume of 6,588,668 shares, compared to its average volume of 9,162,244. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $188.49 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28. The stock has a fifty day moving average of $168.00 and a 200-day moving average of $181.97.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 value of $497,850.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on QCOM shares. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Citigroup upped their price target on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

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.