LS Investment Advisors LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

LS Investment Advisors LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,971 shares of the wireless technology company’s stock after selling 419 shares during the period. QUALCOMM comprises about 2.1% of LS Investment Advisors LLC’s holdings, making the stock its 12th largest holding. LS Investment Advisors LLC’s holdings in QUALCOMM were worth $14,449,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Portside Wealth Group LLC increased its stake in QUALCOMM by 9.4% in the 3rd quarter. Portside Wealth Group LLC now owns 16,092 shares of the wireless technology company’s stock worth $2,736,000 after purchasing an additional 1,381 shares during the period. Consolidated Planning Corp bought a new stake in QUALCOMM during the 3rd quarter valued at $951,000. Western Pacific Wealth Management LP purchased a new stake in QUALCOMM during the 3rd quarter valued at $68,000. JB Capital LLC grew its holdings in QUALCOMM by 5.4% in the 3rd quarter. JB Capital LLC now owns 51,847 shares of the wireless technology company’s stock worth $8,817,000 after acquiring an additional 2,673 shares during the last quarter. Finally, Jmac Enterprises LLC purchased a new position in shares of QUALCOMM in the third quarter valued at about $426,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the 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 of the company’s stock, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $172.91 on Friday. QUALCOMM Incorporated has a 12 month low of $119.15 and a 12 month high of $230.63. The company has a market cap of $192.62 billion, a P/E ratio of 22.40, a PEG ratio of 1.66 and a beta of 1.28. 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 firm has a fifty day moving average price of $168.55 and a 200 day moving average price of $182.14.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Sell-side analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Citigroup decreased their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Barclays upped their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $212.16.

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.