QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Keynote Financial Services LLC

Keynote Financial Services LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,556 shares of the wireless technology company’s stock after selling 153 shares during the period. QUALCOMM accounts for about 1.2% of Keynote Financial Services LLC’s holdings, making the stock its 18th biggest holding. Keynote Financial Services LLC’s holdings in QUALCOMM were worth $1,625,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Legal & General Group Plc increased its holdings in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares during the period. Van ECK Associates Corp increased its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM during the first quarter worth approximately $1,171,516,000. Dimensional Fund Advisors LP lifted its holdings in shares of QUALCOMM by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after buying an additional 173,673 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in QUALCOMM by 1,778.7% in the second 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 buying an additional 3,047,947 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM 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 approximately $1,981,875.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s 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 completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. 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 three months, insiders sold 16,146 shares of company stock valued at $2,709,186. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $172.91 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The stock 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 fifty day moving average price of $168.55 and a 200 day moving average price of $182.14. QUALCOMM Incorporated has a one year low of $119.15 and a one year high of $230.63.

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, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is presently 44.04%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Robert W. Baird raised their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Wells Fargo & Company boosted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday. Susquehanna decreased their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.16.

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.