QUALCOMM Incorporated (NASDAQ:QCOM) Position Trimmed by First Personal Financial Services

First Personal Financial Services decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,106 shares of the wireless technology company’s stock after selling 92 shares during the quarter. First Personal Financial Services’ holdings in QUALCOMM were worth $188,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Matrix Capital Management Company LP acquired a new stake in QUALCOMM in the first quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA lifted its holdings in QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares during the period. International Assets Investment Management LLC lifted its holdings in QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S acquired a new stake in QUALCOMM in the third quarter worth about $229,078,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.2 %

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 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 $190.39 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.76 and a beta of 1.28. The business has a 50 day moving average of $168.53 and a 200-day moving average of $182.15.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 8.62 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. QUALCOMM’s payout ratio is 37.82%.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday. Finally, UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $212.16.

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.