Capital Investment Services of America Inc. Sells 9,425 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Investment Services of America Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 168,248 shares of the wireless technology company’s stock after selling 9,425 shares during the period. QUALCOMM accounts for approximately 2.7% of Capital Investment Services of America Inc.’s portfolio, making the stock its 14th biggest position. Capital Investment Services of America Inc.’s holdings in QUALCOMM were worth $28,611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. increased its position in shares of QUALCOMM by 15.4% during the third quarter. Hazlett Burt & Watson Inc. now owns 3,061 shares of the wireless technology company’s stock worth $520,000 after acquiring an additional 409 shares in the last quarter. Quintet Private Bank Europe S.A. boosted its stake in QUALCOMM by 38.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 3,428 shares of the wireless technology company’s stock worth $583,000 after purchasing an additional 958 shares during the period. PDS Planning Inc increased its holdings in QUALCOMM by 3.6% during the 3rd quarter. PDS Planning Inc now owns 4,046 shares of the wireless technology company’s stock worth $688,000 after purchasing an additional 141 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of QUALCOMM by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 445,153 shares of the wireless technology company’s stock valued at $75,698,000 after purchasing an additional 1,432 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in shares of QUALCOMM by 1.6% in the third quarter. QRG Capital Management Inc. now owns 300,969 shares of the wireless technology company’s stock valued at $51,180,000 after purchasing an additional 4,651 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the 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 sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. 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 quarter, insiders have sold 14,245 shares of company stock valued at $2,395,407. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $1.77 during mid-day trading on Monday, reaching $167.04. 1,374,428 shares of the company were exchanged, compared to its average volume of 8,923,850. The stock has a market capitalization of $186.08 billion, a P/E ratio of 21.41, a P/E/G ratio of 1.63 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. The company’s 50-day simple moving average is $168.77 and its 200-day simple moving average is $182.12. QUALCOMM Incorporated has a twelve month low of $118.38 and a twelve month high of $230.63.

QUALCOMM Announces Dividend

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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $207.92.

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.