Westhampton Capital LLC Sells 1,725 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Westhampton Capital LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,146 shares of the wireless technology company’s stock after selling 1,725 shares during the quarter. QUALCOMM accounts for approximately 1.2% of Westhampton Capital LLC’s investment portfolio, making the stock its 21st largest position. Westhampton Capital LLC’s holdings in QUALCOMM were worth $2,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RBA Wealth Management LLC raised its position in QUALCOMM by 2.5% in the third quarter. RBA Wealth Management LLC now owns 29,600 shares of the wireless technology company’s stock valued at $5,033,000 after purchasing an additional 734 shares during the last quarter. Eastern Bank increased its stake in shares of QUALCOMM by 769.3% in the 3rd quarter. Eastern Bank now owns 9,667 shares of the wireless technology company’s stock valued at $1,644,000 after acquiring an additional 8,555 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in QUALCOMM by 11.0% in the third quarter. Sequoia Financial Advisors LLC now owns 107,807 shares of the wireless technology company’s stock worth $18,333,000 after purchasing an additional 10,646 shares during the period. Mattern Wealth Management LLC grew its stake in shares of QUALCOMM by 5.6% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,544 shares of the wireless technology company’s stock valued at $263,000 after buying an additional 82 shares during the period. Finally, Oakworth Capital Inc. increased its holdings in shares of QUALCOMM by 11.8% during the third quarter. Oakworth Capital Inc. now owns 3,833 shares of the wireless technology company’s stock valued at $652,000 after acquiring an additional 406 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 2.5 %

NASDAQ:QCOM opened at $173.18 on Wednesday. The stock has a market cap of $192.92 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. 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 stock has a 50-day simple moving average of $169.31 and a 200-day simple moving average of $182.26.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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 net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, analysts anticipate 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. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 44.04%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QCOM. Rosenblatt Securities raised their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is owned by insiders.

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.