Kerusso Capital Management LLC Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kerusso Capital Management LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 30.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,747 shares of the wireless technology company’s stock after selling 6,014 shares during the period. Kerusso Capital Management LLC’s holdings in QUALCOMM were worth $2,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Legal & General Group Plc raised its holdings in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM during the first quarter valued at approximately $1,171,516,000. Dimensional Fund Advisors LP increased its holdings in QUALCOMM by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after buying an additional 173,673 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake 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 buying an additional 3,047,947 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, 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 sold 16,146 shares of company stock valued at $2,709,186 over the last quarter. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday. Susquehanna cut their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Rosenblatt Securities raised their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.16.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $2.00 on Friday, hitting $170.91. The company had a trading volume of 10,736,646 shares, compared to its average volume of 9,039,770. The company has a 50-day moving average price of $168.53 and a 200-day moving average price of $182.15. QUALCOMM Incorporated has a twelve month low of $119.85 and a twelve month high of $230.63. The firm has a market cap of $190.39 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping 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 business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts predict that QUALCOMM Incorporated will post 8.62 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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 paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

About QUALCOMM

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.