Sterling Investment Management LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Sterling Investment Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,153 shares of the wireless technology company’s stock after selling 501 shares during the period. Sterling Investment Management LLC’s holdings in QUALCOMM were worth $1,216,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of QCOM. Trilogy Capital Inc. increased its stake in QUALCOMM by 9.7% in the 3rd quarter. Trilogy Capital Inc. now owns 19,179 shares of the wireless technology company’s stock worth $3,261,000 after purchasing an additional 1,698 shares during the period. Gilliland Jeter Wealth Management LLC increased its stake in QUALCOMM by 5.3% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 1,380 shares of the wireless technology company’s stock worth $235,000 after purchasing an additional 70 shares during the period. Narus Financial Partners LLC grew its position in shares of QUALCOMM by 9.9% in the 3rd quarter. Narus Financial Partners LLC now owns 4,051 shares of the wireless technology company’s stock worth $689,000 after buying an additional 365 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of QUALCOMM by 24.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 483,029 shares of the wireless technology company’s stock worth $82,139,000 after buying an additional 94,169 shares during the last quarter. Finally, Vest Financial LLC grew its position in shares of QUALCOMM by 56.1% in the 3rd quarter. Vest Financial LLC now owns 171,406 shares of the wireless technology company’s stock worth $29,148,000 after buying an additional 61,632 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock valued at $3,679,407 over the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 0.1 %

Shares of NASDAQ:QCOM opened at $170.92 on Monday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a market cap of $190.75 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.79 and a beta of 1.28. The business’s 50 day moving average is $169.11 and its 200 day moving average is $182.25. 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 (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

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 paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Cantor Fitzgerald dropped their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Finally, Susquehanna lifted their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen 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 target price of $208.75.

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.