Tandem Capital Management Corp ADV Sells 386 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Tandem Capital Management Corp ADV trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 27,148 shares of the wireless technology company’s stock after selling 386 shares during the quarter. QUALCOMM comprises 2.3% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 10th largest holding. Tandem Capital Management Corp ADV’s holdings in QUALCOMM were worth $4,617,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of QCOM. HWG Holdings LP acquired a new position in shares of QUALCOMM in the second quarter worth about $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM during the second quarter valued at approximately $32,000. Aspect Partners LLC raised its position in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the third quarter valued at approximately $36,000. Finally, First Pacific Financial bought a new position in shares of QUALCOMM in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred 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 sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Down 4.8 %

QCOM stock opened at $167.62 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market capitalization of $186.73 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $106.69 and a fifty-two week high of $230.63. The stock has a fifty day moving average of $169.06 and a 200-day moving average of $182.06.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

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 is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.03%. QUALCOMM’s payout ratio is currently 44.04%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QCOM. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Susquehanna cut their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.92.

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.