Qualcomm Incorporated $QCOM Shares Sold by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. cut its position in Qualcomm Incorporated (NASDAQ:QCOM) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 145,316 shares of the wireless technology company’s stock after selling 4,539 shares during the quarter. Qualcomm accounts for about 2.6% of Capital Investment Services of America Inc.’s holdings, making the stock its 14th largest holding. Capital Investment Services of America Inc.’s holdings in Qualcomm were worth $26,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of QCOM. JFS Wealth Advisors LLC grew its position in shares of Qualcomm by 3.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company’s stock valued at $295,000 after purchasing an additional 53 shares in the last quarter. Canopy Partners LLC increased its holdings in shares of Qualcomm by 1.4% in the third quarter. Canopy Partners LLC now owns 4,148 shares of the wireless technology company’s stock worth $763,000 after purchasing an additional 56 shares during the period. Wall Street Financial Group Inc. raised its position in shares of Qualcomm by 1.9% in the second quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company’s stock worth $564,000 after buying an additional 57 shares in the last quarter. Sunbeam Capital Management LLC raised its position in shares of Qualcomm by 3.7% in the second quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company’s stock worth $303,000 after buying an additional 58 shares in the last quarter. Finally, LaFleur & Godfrey LLC boosted its stake in Qualcomm by 3.6% during the third quarter. LaFleur & Godfrey LLC now owns 1,656 shares of the wireless technology company’s stock valued at $305,000 after buying an additional 58 shares during the period. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on QCOM. Morgan Stanley reduced their target price on Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Robert W. Baird set a $400.00 price target on Qualcomm in a report on Thursday, July 30th. Susquehanna lifted their price target on Qualcomm from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Freedom Capital upgraded Qualcomm from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, UBS Group cut their price objective on Qualcomm from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $205.48.

Qualcomm Stock Performance

NASDAQ QCOM opened at $173.19 on Thursday. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The company has a fifty day moving average of $178.23 and a 200-day moving average of $169.48. The company has a market capitalization of $184.94 billion, a P/E ratio of 20.05, a P/E/G ratio of 3.70 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02.

Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The business had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.12 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts predict that Qualcomm Incorporated will post 7.71 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders 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 42.59%.

Insider Transactions at Qualcomm

In related news, EVP Akash Palkhiwala sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction of $457,125.00. Following the transaction, the executive vice president directly owned 18,184 shares of the company’s stock, valued at approximately $3,324,944.40. This trade represents a 12.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 625 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $162.85, for a total value of $101,781.25. Following the transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $33,872.80. This represents a 75.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,258 shares of company stock valued at $5,727,616 over the last 90 days. Company insiders own 0.05% of the company’s stock.

More Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: SpaceX selected Qualcomm’s Dragonwing platforms for Starlink Mobile’s U.S. terrestrial 5G network under a multiyear agreement. Qualcomm called it its largest 5G initiative to date, creating an opportunity to expand beyond phones. SpaceX deal
• Positive Sentiment: Fiscal Q4 adjusted EPS of $2.17 slightly exceeded the $2.16 consensus, while revenue also topped estimates. Q4 results
• Negative Sentiment: Investors reacted to muted earnings guidance, with a memory shortage weighing on smartphone sales. Handset revenue dropped 26%, dragging down overall results; total revenue fell about 8% year over year and EPS declined from $3.00 a year earlier. Earnings outlook and handset weakness
• Negative Sentiment: Automotive revenue grew 90%, but the business remains too small to offset the handset slowdown, leaving near-term growth and profitability under pressure. Phone chip sales analysis

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.