Golden State Equity Partners Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Golden State Equity Partners cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% in the third quarter, HoldingsChannel.com reports. The fund owned 9,466 shares of the wireless technology company’s stock after selling 644 shares during the period. Golden State Equity Partners’ holdings in QUALCOMM were worth $1,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in shares of QUALCOMM in the second quarter worth approximately $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM during the second quarter valued at about $32,000. Aspect Partners LLC lifted its position in shares of 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 buying an additional 74 shares in the last quarter. Accordant Advisory Group Inc purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $36,000. Finally, First Pacific Financial purchased a new position in QUALCOMM during the second quarter valued at approximately $40,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QCOM traded down $6.56 during midday trading on Wednesday, hitting $169.44. 765,347 shares of the company were exchanged, compared to its average volume of 8,926,628. The company’s 50 day simple moving average is $169.19 and its 200 day simple moving average is $182.17. The firm has a market capitalization of $188.76 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $106.69 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.

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

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on QCOM shares. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock valued at $3,679,407 in the last ninety days. 0.08% of the stock is currently owned by corporate 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.