QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Heard Capital LLC

Heard Capital LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,688 shares of the wireless technology company’s stock after selling 250 shares during the period. QUALCOMM comprises about 0.1% of Heard Capital LLC’s holdings, making the stock its 20th largest position. Heard Capital LLC’s holdings in QUALCOMM were worth $1,272,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of QCOM. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM in the 1st quarter valued at about $26,000. TD Capital Management LLC lifted its stake in QUALCOMM by 118.8% in the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after buying an additional 120 shares during the last quarter. Avion Wealth boosted its holdings in shares of QUALCOMM by 1,830.8% in the second quarter. Avion Wealth now owns 251 shares of the wireless technology company’s stock valued at $29,000 after acquiring an additional 238 shares during the period. Pacific Center for Financial Services purchased a new position in shares of QUALCOMM during the first quarter worth approximately $31,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of QUALCOMM in the 1st quarter valued at $32,000. 71.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $124.00, for a total value of $124,000.00. Following the sale, the insider now directly owns 3,745 shares of the company’s stock, valued at approximately $464,380. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Alexander H. Rogers sold 6,001 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $110.40, for a total value of $662,510.40. Following the completion of the transaction, the insider now owns 25,229 shares of the company’s stock, valued at approximately $2,785,281.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $124.00, for a total transaction of $124,000.00. Following the sale, the insider now directly owns 3,745 shares in the company, valued at $464,380. The disclosure for this sale can be found here. Insiders sold 46,963 shares of company stock valued at $5,377,298 in the last 90 days. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QCOM. Piper Sandler raised their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Evercore ISI dropped their price target on QUALCOMM from $140.00 to $135.00 in a research report on Thursday, October 5th. KeyCorp reaffirmed an “overweight” rating and set a $145.00 price objective on shares of QUALCOMM in a research report on Thursday, September 14th. UBS Group boosted their target price on QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Finally, Mizuho reaffirmed a “buy” rating and set a $140.00 price target on shares of QUALCOMM in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $137.85.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $0.17 during trading on Monday, hitting $129.64. 2,752,585 shares of the stock were exchanged, compared to its average volume of 8,070,134. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $139.94. The company has a market cap of $144.68 billion, a PE ratio of 20.14, a P/E/G ratio of 1.44 and a beta of 1.21. The company has a fifty day moving average price of $113.29 and a two-hundred day moving average price of $114.73. The company has a current ratio of 2.33, a quick ratio of 1.67 and a debt-to-equity ratio of 0.67.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, November 29th. QUALCOMM’s dividend payout ratio is currently 49.84%.

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.