Golden State Equity Partners Has $1.61 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Golden State Equity Partners reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,466 shares of the wireless technology company’s stock after selling 644 shares during the quarter. Golden State Equity Partners’ holdings in QUALCOMM were worth $1,610,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the second quarter worth about $32,000. Aspect Partners LLC boosted its stake in QUALCOMM by 71.8% during the 2nd 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 last quarter. Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM in the third quarter worth 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.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $6.56 during mid-day trading on Wednesday, reaching $169.44. 765,347 shares of the company were exchanged, compared to its average volume of 8,926,628. The company’s 50 day moving average price is $169.19 and its 200 day moving average price is $182.17. QUALCOMM Incorporated has a 52 week low of $106.69 and a 52 week high of $230.63. 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 stock has a market capitalization of $188.76 billion, a PE ratio of 22.80, a PEG ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share 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 during the quarter, compared to the consensus estimate of $9.23 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Analysts Set New Price Targets

A number of research firms recently commented on QCOM. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, July 17th. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $207.92.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s 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 sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction 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 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. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.