QUALCOMM, Inc. (NASDAQ:QCOM) Shares Sold by Intellectus Partners LLC
Intellectus Partners LLC reduced its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 19,160 shares of the wireless technology company’s stock after selling 387 shares during the quarter. Intellectus Partners LLC’s holdings in QUALCOMM were worth $1,690,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernardo Wealth Planning LLC purchased a new position in shares of QUALCOMM in the 2nd quarter valued at $223,000. Victory Capital Management Inc. grew its position in shares of QUALCOMM by 40.0% in the 2nd quarter. Victory Capital Management Inc. now owns 24,821 shares of the wireless technology company’s stock valued at $1,888,000 after buying an additional 7,090 shares during the last quarter. Centaurus Financial Inc. grew its position in shares of QUALCOMM by 1,096.5% in the 2nd quarter. Centaurus Financial Inc. now owns 3,745 shares of the wireless technology company’s stock valued at $285,000 after buying an additional 3,432 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of QUALCOMM in the 2nd quarter valued at $217,000. Finally, Covington Capital Management grew its position in shares of QUALCOMM by 1.4% in the 2nd quarter. Covington Capital Management now owns 61,538 shares of the wireless technology company’s stock valued at $4,681,000 after buying an additional 872 shares during the last quarter. 77.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of QCOM stock traded down $2.82 during mid-day trading on Friday, hitting $89.18. The stock had a trading volume of 5,547,533 shares, compared to its average volume of 8,016,153. QUALCOMM, Inc. has a fifty-two week low of $49.10 and a fifty-two week high of $96.17. The firm has a market cap of $106.16 billion, a PE ratio of 24.84, a PEG ratio of 1.91 and a beta of 1.62. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.88 and a quick ratio of 1.72. The company’s 50-day simple moving average is $88.97 and its 200-day simple moving average is $80.98.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, March 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.
In other news, EVP Alexander H. Rogers sold 735 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $95.37, for a total value of $70,096.95. Following the completion of the sale, the executive vice president now owns 14,247 shares in the company, valued at approximately $1,358,736.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $85.07, for a total transaction of $1,276,050.00. Following the completion of the sale, the executive vice president now owns 22,832 shares of the company’s stock, valued at approximately $1,942,318.24. The disclosure for this sale can be found here. Insiders sold a total of 109,458 shares of company stock valued at $9,349,683 in the last 90 days. Company insiders own 0.11% of the company’s stock.
QCOM has been the topic of a number of recent analyst reports. Cowen reaffirmed a “buy” rating and issued a $100.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. BidaskClub upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Wednesday. Argus increased their price target on shares of QUALCOMM from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Citigroup upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and increased their price target for the stock from $89.00 to $108.00 in a research note on Friday, January 17th. Finally, Deutsche Bank increased their price target on shares of QUALCOMM from $82.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Buy” and a consensus target price of $88.84.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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