QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 19,165 shares of the wireless technology company’s stock after selling 2,853 shares during the quarter. QUALCOMM accounts for about 2.7% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Processus Wealth & Capital Management LLC’s holdings in QUALCOMM were worth $3,259,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the second quarter worth about $30,000. Reston Wealth Management LLC purchased a new position in QUALCOMM in the 3rd quarter worth approximately $26,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC raised its stake in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. lifted its position in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday. Piper Sandler restated an “overweight” rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. Citigroup reduced their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $212.16.

QUALCOMM Trading Down 1.2 %

Shares of NASDAQ:QCOM opened at $170.91 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $168.53 and its 200 day moving average price is $182.15. The company has a market cap of $190.39 billion, a PE ratio of 19.01, a P/E/G ratio of 1.76 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $119.85 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) 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. Sell-side analysts anticipate that QUALCOMM Incorporated will post 8.62 earnings per share for the current year.

QUALCOMM Announces Dividend

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

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,146 shares of company stock valued at $2,709,186. Company insiders own 0.08% of the company’s stock.

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.