Heritage Wealth Management Inc. Sells 99 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Heritage Wealth Management Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,380 shares of the wireless technology company’s stock after selling 99 shares during the quarter. Heritage Wealth Management Inc.’s holdings in QUALCOMM were worth $1,255,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in QUALCOMM in the second quarter worth $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the second quarter worth $32,000. Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% during 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. Finally, Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the third quarter worth about $36,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $1.68 during trading on Friday, hitting $171.23. The stock had a trading volume of 458,552 shares, compared to its average volume of 8,992,789. The stock has a 50-day simple moving average of $168.55 and a two-hundred day simple moving average of $182.14. The stock has a market capitalization of $190.75 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $119.85 and a 12-month 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.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 44.04%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $212.16.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s 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 completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by corporate insiders.

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.