QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 89,306 shares of the wireless technology company’s stock after selling 23,851 shares during the quarter. QUALCOMM comprises 1.3% of KMG Fiduciary Partners LLC’s holdings, making the stock its 14th biggest position. KMG Fiduciary Partners LLC’s holdings in QUALCOMM were worth $15,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of QCOM. Park Avenue Securities LLC increased its stake in shares of QUALCOMM by 11.8% in the first quarter. Park Avenue Securities LLC now owns 25,723 shares of the wireless technology company’s stock worth $4,355,000 after purchasing an additional 2,709 shares during the period. Marcum Wealth LLC boosted its holdings in QUALCOMM by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,249 shares of the wireless technology company’s stock valued at $381,000 after purchasing an additional 70 shares in the last quarter. RFG Advisory LLC boosted its holdings in QUALCOMM by 3.6% during the first quarter. RFG Advisory LLC now owns 19,864 shares of the wireless technology company’s stock valued at $3,363,000 after purchasing an additional 696 shares in the last quarter. Rockland Trust Co. bought a new position in shares of QUALCOMM in the first quarter valued at approximately $231,000. Finally, MJP Associates Inc. ADV raised its stake in shares of QUALCOMM by 24.6% in the first quarter. MJP Associates Inc. ADV now owns 2,153 shares of the wireless technology company’s stock valued at $364,000 after acquiring an additional 425 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Citigroup reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.75.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were 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 owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 in the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

QUALCOMM stock opened at $170.92 on Friday. The firm’s 50 day simple moving average is $169.11 and its 200 day simple moving average is $182.12. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $190.40 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.79 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, analysts expect that QUALCOMM Incorporated will post 8.02 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 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is presently 44.04%.

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.