Malaga Cove Capital LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Malaga Cove Capital LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,626 shares of the wireless technology company’s stock after selling 784 shares during the quarter. Malaga Cove Capital LLC’s holdings in QUALCOMM were worth $447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth $26,000. HWG Holdings LP purchased a new stake in QUALCOMM during the 2nd quarter worth about $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth about $32,000. Aspect Partners LLC increased its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Finally, Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

QCOM has been the topic of several recent analyst reports. Cantor Fitzgerald dropped their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. Finally, Rosenblatt Securities raised their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $207.29.

QUALCOMM Stock Performance

QUALCOMM stock opened at $172.99 on Thursday. 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 stock has a 50 day moving average of $168.55 and a 200-day moving average of $182.14. The stock has a market cap of $192.71 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $119.15 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 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.