Oarsman Capital Inc. Sells 4,205 Shares of QUALCOMM Incorporated $QCOM

Oarsman Capital Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 24.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,050 shares of the wireless technology company’s stock after selling 4,205 shares during the period. Oarsman Capital Inc.’s holdings in QUALCOMM were worth $2,078,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of QCOM. Atlantic Edge Private Wealth Management LLC lifted its stake in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in QUALCOMM in the 2nd quarter worth $32,000. Harbor Asset Planning Inc. purchased a new stake in QUALCOMM in the 2nd quarter worth $32,000. Finally, Atticus Wealth Management LLC lifted its stake in QUALCOMM by 21,200.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 3.5%

Shares of NASDAQ QCOM opened at $181.03 on Wednesday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $205.95. The stock has a market capitalization of $195.33 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 2.72 and a beta of 1.23. The firm’s 50-day moving average price is $164.47 and its 200-day moving average price is $155.83.

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

QUALCOMM Dividend Announcement

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

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the sale, the insider directly owned 21,193 shares of the company’s stock, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 150,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the completion of the sale, the chief executive officer directly owned 149,304 shares in the company, valued at $24,718,770.24. This trade represents a 50.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 168,102 shares of company stock worth $27,706,855 over the last three months. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of several research analyst reports. UBS Group set a $165.00 price target on shares of QUALCOMM in a research note on Monday. Piper Sandler decreased their target price on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Weiss Ratings upgraded shares of QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. Arete Research set a $200.00 target price on shares of QUALCOMM in a research report on Tuesday, August 26th. Finally, Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $183.95.

About QUALCOMM

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.