Qualcomm Incorporated $QCOM Holdings Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in Qualcomm Incorporated (NASDAQ:QCOM) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 438,488 shares of the wireless technology company’s stock after selling 5,793 shares during the quarter. King Luther Capital Management Corp’s holdings in Qualcomm were worth $80,699,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in QCOM. ABS Investment Management LLC bought a new stake in Qualcomm during the 2nd quarter worth approximately $34,000. ABS Direct Equity Fund LLC bought a new position in shares of Qualcomm during the second quarter valued at $34,000. Mizuho Securities Co. Ltd. bought a new position in shares of Qualcomm during the third quarter valued at $35,000. Team Financial Group LLC acquired a new position in shares of Qualcomm during the third quarter worth $38,000. Finally, Burk Holdings LLC lifted its holdings in shares of Qualcomm by 191.7% during the second quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after purchasing an additional 138 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on QCOM. JPMorgan Chase & Co. reduced their price objective on shares of Qualcomm from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Royal Bank Of Canada lifted their target price on Qualcomm from $160.00 to $180.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 9th. Weiss Ratings upgraded Qualcomm from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. Freedom Broker downgraded Qualcomm from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $200.00 to $185.00 in a research report on Monday. Finally, Sanford C. Bernstein cut their price objective on Qualcomm from $165.00 to $155.00 and set a “market perform” rating on the stock in a research note on Monday, November 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $197.13.

Insider Activity at Qualcomm

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $165.42, for a total value of $529,344.00. Following the transaction, the executive vice president directly owned 39,379 shares of the company’s stock, valued at approximately $6,514,074.18. The trade was a 7.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 177,568 shares in the company, valued at approximately $35,513,600. This trade represents a 5.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,520 shares of company stock worth $6,101,411 over the last quarter. 0.05% of the stock is owned by company insiders.

Qualcomm Price Performance

QCOM stock opened at $176.57 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42. The firm has a market cap of $188.93 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.92 and a beta of 1.70. The company’s fifty day simple moving average is $178.51 and its 200 day simple moving average is $169.78. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The firm had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same period last year, the business posted $3.00 EPS. The business’s revenue was down 8.4% compared to the same quarter last year. On average, analysts expect that Qualcomm Incorporated will post 7.15 earnings per share for the current year.

Qualcomm Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.1%. Qualcomm’s dividend payout ratio is presently 28.98%.

Trending Headlines about Qualcomm

Investors following QCOM have been watching these headlines:

• Positive Sentiment: ETFs bought $293.8 million of Qualcomm shares on Nov. 9, with 35 funds buying and 17 selling, pointing to net institutional demand. Article
• Negative Sentiment: Barclays’ Tom O’Malley maintained a Sell rating, adding to analyst concerns about Qualcomm’s outlook. A separate report cited Barclays’ reduced price target of $150 from $180. Article
• Negative Sentiment: Qualcomm’s handset business remains a concern as it shrinks, leaving investors to assess whether automotive and other newer businesses can offset pressure in the company’s core market. Article

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.