Interchange Capital Partners LLC Has $600,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Interchange Capital Partners LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.2% during the third quarter, HoldingsChannel reports. The fund owned 3,529 shares of the wireless technology company’s stock after selling 192 shares during the quarter. Interchange Capital Partners LLC’s holdings in QUALCOMM were worth $600,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM during the first quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA lifted its stake in 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 valued at $641,221,000 after acquiring an additional 3,047,947 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares during the last quarter. Maj Invest Holding A S purchased a new stake in shares of QUALCOMM in the third quarter valued at about $229,078,000. Finally, ProShare Advisors LLC lifted its position in shares of QUALCOMM by 86.7% during the second quarter. ProShare Advisors LLC now owns 2,739,106 shares of the wireless technology company’s stock valued at $545,575,000 after purchasing an additional 1,272,191 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock traded up $3.18 during midday trading on Friday, reaching $165.95. 1,346,129 shares of the stock were exchanged, compared to its average volume of 8,935,158. The company’s fifty day moving average is $168.94 and its 200-day moving average is $181.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a 52 week low of $114.45 and a 52 week high of $230.63. The firm has a market cap of $184.87 billion, a PE ratio of 21.08, a PEG ratio of 1.68 and a beta of 1.28.

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

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. QUALCOMM’s payout ratio is currently 44.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QCOM. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company increased their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Rosenblatt Securities upped their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $207.92.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,245 shares of company stock worth $2,395,407. 0.08% of the stock is currently owned by insiders.

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.