BNC Wealth Management LLC Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

BNC Wealth Management LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.9% in the third quarter, Holdings Channel.com reports. The fund owned 2,572 shares of the wireless technology company’s stock after selling 562 shares during the period. BNC Wealth Management LLC’s holdings in QUALCOMM were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Hanseatic Management Services Inc. raised its stake in shares of QUALCOMM by 23.4% in the third quarter. Hanseatic Management Services Inc. now owns 380 shares of the wireless technology company’s stock valued at $65,000 after acquiring an additional 72 shares during the period. Baugh & Associates LLC lifted its holdings in QUALCOMM by 16.7% during the 3rd quarter. Baugh & Associates LLC now owns 26,823 shares of the wireless technology company’s stock valued at $4,418,000 after buying an additional 3,846 shares in the last quarter. Advisor Resource Council bought a new stake in QUALCOMM during the 3rd quarter valued at about $1,234,000. Graypoint LLC lifted its holdings in QUALCOMM by 3.6% during the 3rd quarter. Graypoint LLC now owns 8,211 shares of the wireless technology company’s stock valued at $1,396,000 after buying an additional 288 shares in the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC bought a new stake in QUALCOMM during the 3rd quarter valued at about $273,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $172.99 on Thursday. The firm has a 50-day simple moving average of $168.55 and a 200-day simple moving average of $182.14. The stock has a market capitalization of $192.71 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. 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 Incorporated has a 52 week low of $119.15 and a 52 week high of $230.63.

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

QUALCOMM Announces Dividend

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

Analyst Ratings Changes

QCOM has been the subject of several recent research reports. DZ Bank upgraded shares of 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. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday. Finally, Susquehanna cut their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $208.96.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction 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 $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated 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 directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by company 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.