Qualcomm Incorporated $QCOM Stock Sold by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. lessened its holdings in Qualcomm Incorporated (NASDAQ:QCOM) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,316 shares of the wireless technology company’s stock after selling 4,539 shares during the quarter. Qualcomm accounts for 2.6% of Capital Investment Services of America Inc.’s investment portfolio, making the stock its 14th largest position. Capital Investment Services of America Inc.’s holdings in Qualcomm were worth $26,744,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. JFS Wealth Advisors LLC increased its holdings in Qualcomm by 3.4% during the second quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company’s stock worth $295,000 after buying an additional 53 shares during the last quarter. Canopy Partners LLC raised its position in Qualcomm by 1.4% in the third quarter. Canopy Partners LLC now owns 4,148 shares of the wireless technology company’s stock worth $763,000 after acquiring an additional 56 shares during the period. Wall Street Financial Group Inc. raised its position in Qualcomm by 1.9% in the second quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company’s stock worth $564,000 after acquiring an additional 57 shares during the period. Sunbeam Capital Management LLC raised its position in Qualcomm by 3.7% in the second quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company’s stock worth $303,000 after acquiring an additional 58 shares during the period. Finally, LaFleur & Godfrey LLC boosted its stake in Qualcomm by 3.6% in the third quarter. LaFleur & Godfrey LLC now owns 1,656 shares of the wireless technology company’s stock valued at $305,000 after acquiring an additional 58 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Qualcomm News Roundup

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: SpaceX selected Qualcomm’s Dragonwing platforms for Starlink Mobile’s U.S. terrestrial 5G network under a multiyear agreement. Qualcomm called it its largest 5G initiative to date, creating an opportunity to expand beyond phones. SpaceX deal
• Positive Sentiment: Fiscal Q4 adjusted EPS of $2.17 slightly exceeded the $2.16 consensus, while revenue also topped estimates. Q4 results
• Negative Sentiment: Investors reacted to muted earnings guidance, with a memory shortage weighing on smartphone sales. Handset revenue dropped 26%, dragging down overall results; total revenue fell about 8% year over year and EPS declined from $3.00 a year earlier. Earnings outlook and handset weakness
• Negative Sentiment: Automotive revenue grew 90%, but the business remains too small to offset the handset slowdown, leaving near-term growth and profitability under pressure. Phone chip sales analysis

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Oppenheimer set a $200.00 target price on shares of Qualcomm in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qualcomm in a report on Monday, September 21st. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Qualcomm in a report on Thursday. Royal Bank Of Canada upped their price objective on Qualcomm from $160.00 to $180.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 9th. Finally, KeyCorp reissued a “sector weight” rating on shares of Qualcomm in a report on Wednesday, September 9th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $205.48.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $173.19 on Thursday. The firm has a market capitalization of $184.94 billion, a PE ratio of 20.05, a P/E/G ratio of 3.70 and a beta of 1.70. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $178.23 and a two-hundred day moving average price of $169.48. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.01. The company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.00 earnings per share. Equities analysts forecast that Qualcomm Incorporated will post 7.71 EPS for the current year.

Qualcomm Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Qualcomm’s payout ratio is currently 42.59%.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction of $457,125.00. Following the sale, the executive vice president owned 18,184 shares in the company, valued at $3,324,944.40. This represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the firm’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 177,568 shares of the company’s stock, valued at $35,513,600. The trade was a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,258 shares of company stock valued at $5,727,616 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Qualcomm Profile

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.