QUALCOMM Incorporated $QCOM Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 77.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,113 shares of the wireless technology company’s stock after selling 10,604 shares during the period. AlphaQuest LLC’s holdings in QUALCOMM were worth $496,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.6% in the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock worth $17,568,141,000 after acquiring an additional 638,284 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in QUALCOMM by 656,661.0% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock valued at $9,360,274,000 after purchasing an additional 58,764,593 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in QUALCOMM by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,422,341 shares of the wireless technology company’s stock valued at $1,600,976,000 after purchasing an additional 641,654 shares in the last quarter. Invesco Ltd. grew its holdings in QUALCOMM by 2.2% during the 1st quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company’s stock valued at $1,512,458,000 after purchasing an additional 215,900 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in QUALCOMM by 5.3% during the 1st quarter. Ameriprise Financial Inc. now owns 9,389,620 shares of the wireless technology company’s stock valued at $1,441,847,000 after purchasing an additional 471,648 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $181.03 on Wednesday. The firm has a fifty day moving average of $164.47 and a two-hundred day moving average of $155.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $205.95. The firm has a market cap of $195.33 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.72 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the firm posted $2.33 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 34.33%.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the transaction, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 791 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the completion of the transaction, the chief accounting officer owned 1,106 shares in the company, valued at approximately $171,230.92. The trade was a 41.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 168,102 shares of company stock worth $27,706,855. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup raised their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the company an “outperform” rating in a report on Monday, July 28th. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Weiss Ratings raised shares of QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $183.95.

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.