Keynote Financial Services LLC Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Keynote Financial Services LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,556 shares of the wireless technology company’s stock after selling 153 shares during the period. QUALCOMM accounts for 1.2% of Keynote Financial Services LLC’s holdings, making the stock its 18th biggest position. Keynote Financial Services LLC’s holdings in QUALCOMM were worth $1,625,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter worth approximately $26,000. HWG Holdings LP acquired a new stake in QUALCOMM in the second quarter valued at $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the period. Finally, Accordant Advisory Group Inc purchased a new position in QUALCOMM during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company upped their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, UBS Group boosted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $212.16.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $172.91 on Friday. The stock has a market capitalization of $192.62 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 52-week low of $119.15 and a 52-week high of $230.63. The company has a fifty day moving average of $168.55 and a 200-day moving average of $182.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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 analysts’ expectations of $9.90 billion. Equities research analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

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

Insiders Place Their Bets

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 in the last three months. 0.08% of the stock is owned by company 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.