Addison Capital Co Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Addison Capital Co reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,791 shares of the wireless technology company’s stock after selling 287 shares during the period. QUALCOMM makes up about 3.0% of Addison Capital Co’s investment portfolio, making the stock its 7th largest position. Addison Capital Co’s holdings in QUALCOMM were worth $7,447,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in QCOM. Matrix Capital Management Company LP bought a new position in QUALCOMM in the 1st quarter worth approximately $1,171,516,000. Massachusetts Financial Services Co. MA grew its holdings in shares of QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $238,770,000. Finally, Maj Invest Holding A S acquired a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $229,078,000. 74.35% of the stock is owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of the company’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 transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.1 %

NASDAQ:QCOM opened at $173.01 on Friday. QUALCOMM Incorporated has a 1 year low of $104.33 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. The stock has a market cap of $192.73 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.79 and a beta of 1.28. The stock has a 50-day moving average price of $168.98 and a two-hundred day moving average price of $182.12.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, equities analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is currently 44.04%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on QCOM shares. Barclays lifted their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Tigress Financial boosted their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Rosenblatt Securities boosted their price objective on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.75.

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.