QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,410 shares of the wireless technology company’s stock after selling 99 shares during the period. Monterey Private Wealth Inc.’s holdings in QUALCOMM were worth $240,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Apella Capital LLC grew its stake in shares of QUALCOMM by 3.3% in the 3rd quarter. Apella Capital LLC now owns 5,171 shares of the wireless technology company’s stock valued at $870,000 after purchasing an additional 164 shares during the last quarter. Czech National Bank lifted its holdings in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after purchasing an additional 13,888 shares during the period. Central Pacific Bank Trust Division grew its position in QUALCOMM by 3.7% in the 3rd quarter. Central Pacific Bank Trust Division now owns 13,721 shares of the wireless technology company’s stock valued at $2,333,000 after buying an additional 484 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in QUALCOMM by 9.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 23,993 shares of the wireless technology company’s stock valued at $4,080,000 after buying an additional 2,147 shares during the period. Finally, Cascade Investment Advisors Inc. raised its position in QUALCOMM by 3.2% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 10,404 shares of the wireless technology company’s stock worth $1,769,000 after buying an additional 320 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. DZ Bank upgraded shares of 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. Finally, Robert W. Baird boosted their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $168.92 on Friday. The business’s 50-day simple moving average is $168.23 and its 200-day simple moving average is $181.96. The firm has a market capitalization of $188.18 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.86 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. 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 quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM 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.