QUALCOMM Incorporated (NASDAQ:QCOM) is Spring Capital Management LLC’s 4th Largest Position

Spring Capital Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,822 shares of the wireless technology company’s stock after selling 1,251 shares during the quarter. QUALCOMM makes up about 6.5% of Spring Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Spring Capital Management LLC’s holdings in QUALCOMM were worth $8,812,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. acquired a new stake in QUALCOMM during the 1st quarter worth $688,000. TrueMark Investments LLC boosted its position in shares of QUALCOMM by 24.7% during the 1st quarter. TrueMark Investments LLC now owns 20,024 shares of the wireless technology company’s stock valued at $3,390,000 after acquiring an additional 3,960 shares during the last quarter. Aspiriant LLC boosted its position in shares of QUALCOMM by 25.0% during the 1st quarter. Aspiriant LLC now owns 17,470 shares of the wireless technology company’s stock valued at $2,958,000 after acquiring an additional 3,490 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of QUALCOMM by 50.9% during the 1st quarter. Revolve Wealth Partners LLC now owns 2,305 shares of the wireless technology company’s stock valued at $390,000 after acquiring an additional 777 shares during the last quarter. Finally, DGS Capital Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $265,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 2.7 %

QCOM traded down $4.68 on Wednesday, reaching $168.50. The company’s stock had a trading volume of 1,838,135 shares, compared to its average volume of 8,995,095. The stock has a 50 day moving average of $169.31 and a two-hundred day moving average of $182.26. 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 has a market capitalization of $187.71 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

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

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 $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 44.04%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $36,229,207.20. 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 can be accessed through this hyperlink. 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 transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reduced their price objective on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has assigned 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 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.