QUALCOMM Incorporated $QCOM Shares Sold by Putney Financial Group LLC

Putney Financial Group LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,005 shares of the wireless technology company’s stock after selling 101 shares during the period. Putney Financial Group LLC’s holdings in QUALCOMM were worth $319,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. UNIVEST FINANCIAL Corp boosted its stake in shares of QUALCOMM by 9.1% in the 2nd quarter. UNIVEST FINANCIAL Corp now owns 2,105 shares of the wireless technology company’s stock valued at $335,000 after buying an additional 175 shares during the period. Simon Quick Advisors LLC raised its holdings in QUALCOMM by 17.5% in the second quarter. Simon Quick Advisors LLC now owns 9,599 shares of the wireless technology company’s stock valued at $1,529,000 after acquiring an additional 1,430 shares in the last quarter. Arbor Capital Management Inc. ADV lifted its stake in QUALCOMM by 8.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 16,938 shares of the wireless technology company’s stock worth $2,585,000 after acquiring an additional 1,365 shares during the last quarter. Coign Capital Advisors LLC lifted its stake in QUALCOMM by 2.2% in the second quarter. Coign Capital Advisors LLC now owns 3,870 shares of the wireless technology company’s stock worth $616,000 after acquiring an additional 84 shares during the last quarter. Finally, Impact Partnership Wealth LLC acquired a new position in QUALCOMM during the 2nd quarter worth approximately $1,005,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on QCOM. Arete Research set a $200.00 price objective on shares of QUALCOMM in a research report on Tuesday, August 26th. JPMorgan Chase & Co. raised their price target on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. UBS Group set a $165.00 price target on QUALCOMM in a report on Monday. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Arete raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.95.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 8,335 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the transaction, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at approximately $6,067,998.46. This trade represents a 18.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Patricia Y. Grech sold 273 shares of QUALCOMM stock in a transaction on Friday, September 12th. The shares were sold at an average price of $161.42, for a total transaction of $44,067.66. Following the completion of the transaction, the chief accounting officer owned 404 shares in the company, valued at approximately $65,213.68. This represents a 40.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 166,502 shares of company stock valued at $27,472,615. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $177.26 on Friday. The stock’s 50-day moving average is $165.40 and its two-hundred day moving average is $156.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95. The firm has a market cap of $191.26 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 2.59 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 EPS. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio is presently 34.33%.

QUALCOMM 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.