Deseret Mutual Benefit Administrators Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Deseret Mutual Benefit Administrators lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,630 shares of the wireless technology company’s stock after selling 355 shares during the quarter. QUALCOMM accounts for 0.8% of Deseret Mutual Benefit Administrators’ investment portfolio, making the stock its 20th largest position. Deseret Mutual Benefit Administrators’ holdings in QUALCOMM were worth $1,638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Leelyn Smith LLC acquired a new position in QUALCOMM during the first quarter worth $208,000. Concord Investment Counsel Inc. purchased a new position in shares of QUALCOMM in the first quarter valued at $421,000. CFO4Life Group LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth $793,000. Empirical Finance LLC boosted its position in shares of QUALCOMM by 4.5% in the 1st quarter. Empirical Finance LLC now owns 31,279 shares of the wireless technology company’s stock worth $5,296,000 after buying an additional 1,346 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in QUALCOMM by 3.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 60,297 shares of the wireless technology company’s stock valued at $10,208,000 after acquiring an additional 2,018 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Susquehanna reduced their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. Wells Fargo & Company increased their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.96.

QUALCOMM Stock Up 5.6 %

QCOM opened at $182.69 on Thursday. QUALCOMM Incorporated has a 1 year low of $119.15 and a 1 year high of $230.63. The firm has a 50 day moving average price of $168.55 and a 200 day moving average price of $182.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market cap of $203.52 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) 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 net margin of 23.32% and a return on equity of 38.12%. Sell-side analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 1.86%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents 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. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was 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 owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock valued at $2,709,186 over the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM 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.