QUALCOMM Incorporated $QCOM Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,463 shares of the wireless technology company’s stock after selling 1,558 shares during the period. Kovack Advisors Inc.’s holdings in QUALCOMM were worth $1,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. IFG Advisory LLC boosted its holdings in QUALCOMM by 5.5% in the 2nd quarter. IFG Advisory LLC now owns 25,930 shares of the wireless technology company’s stock valued at $4,130,000 after purchasing an additional 1,345 shares during the last quarter. UNIVEST FINANCIAL Corp boosted its holdings in 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 purchasing an additional 175 shares during the last quarter. Simon Quick Advisors LLC boosted its holdings in QUALCOMM by 17.5% in the 2nd quarter. Simon Quick Advisors LLC now owns 9,599 shares of the wireless technology company’s stock valued at $1,529,000 after purchasing an additional 1,430 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its holdings in QUALCOMM by 8.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 16,938 shares of the wireless technology company’s stock valued at $2,585,000 after purchasing an additional 1,365 shares during the last quarter. Finally, Coign Capital Advisors LLC lifted its holdings in shares of QUALCOMM by 2.2% in the 2nd 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. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Patricia Y. Grech sold 201 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $170.00, for a total value of $34,170.00. Following the sale, the chief accounting officer directly owned 203 shares of the company’s stock, valued at approximately $34,510. This represents a 49.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 8,335 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 36,541 shares in the company, valued at approximately $6,067,998.46. This represents a 18.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 166,502 shares of company stock valued at $27,472,615 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $177.26 on Friday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $205.95. The firm’s 50 day moving average price is $165.40 and its 200 day moving average price is $156.26. The company has a market cap of $191.26 billion, a P/E ratio of 17.09, a PEG ratio of 2.59 and a beta of 1.23. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54.

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

QUALCOMM Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Susquehanna upped their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Weiss Ratings upgraded shares of QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Mizuho decreased their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Arete upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a report on Tuesday, August 26th. Finally, Piper Sandler decreased their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $183.95.

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.