Premier Path Wealth Partners LLC Sells 381 Shares of QUALCOMM Incorporated $QCOM

Premier Path Wealth Partners LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,638 shares of the wireless technology company’s stock after selling 381 shares during the period. Premier Path Wealth Partners LLC’s holdings in QUALCOMM were worth $739,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC lifted its stake in QUALCOMM by 70.0% in the first 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 during the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in QUALCOMM by 122.4% in the first 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 during the last quarter. Chung Wu Investment Group LLC bought a new stake in QUALCOMM in the second quarter worth $32,000. Harbor Asset Planning Inc. bought a new stake in QUALCOMM in the second quarter worth $32,000. Finally, Atticus Wealth Management LLC lifted its stake in QUALCOMM by 21,200.0% in the second 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 during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 8,335 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 36,541 shares of the company’s stock, valued at $6,067,998.46. The trade was a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 150,000 shares of the business’s 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 sale, the chief executive officer directly owned 149,304 shares in the company, valued at $24,718,770.24. The trade was a 50.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 166,502 shares of company stock worth $27,472,615. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $177.26 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company’s 50-day moving average is $165.40 and its 200 day moving average is $156.26. The stock has a market capitalization of $191.26 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.59 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. QUALCOMM’s quarterly revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $3.56 annualized dividend and a yield of 2.0%. QUALCOMM’s payout ratio is presently 34.33%.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. 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 research report on Tuesday, August 26th. 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 research report on Thursday, July 31st. Citigroup boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.95.

QUALCOMM Company 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.