QUALCOMM Incorporated $QCOM Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,463 shares of the wireless technology company’s stock after selling 1,558 shares during the period. Kovack Advisors Inc.’s holdings in QUALCOMM were worth $1,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC lifted its position in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after purchasing an additional 340 shares during the period. Golden State Wealth Management LLC lifted its position in QUALCOMM by 24.8% during the first quarter. Golden State Wealth Management LLC now owns 4,457 shares of the wireless technology company’s stock valued at $685,000 after purchasing an additional 885 shares during the period. Clear Creek Financial Management LLC lifted its position in QUALCOMM by 16.9% during the first quarter. Clear Creek Financial Management LLC now owns 3,099 shares of the wireless technology company’s stock valued at $476,000 after purchasing an additional 447 shares during the period. Finally, Rossby Financial LCC acquired a new position in QUALCOMM during the first quarter valued at $258,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on QCOM shares. JPMorgan Chase & Co. boosted their target price 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Tuesday. Arete Research set a $200.00 price objective on shares of QUALCOMM in a report on Tuesday, August 26th. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Weiss Ratings raised shares of QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.95.

Insider Activity at QUALCOMM

In other news, CAO Patricia Y. Grech sold 201 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $170.00, for a total transaction of $34,170.00. Following the completion of the sale, the chief accounting officer owned 203 shares of the company’s stock, valued at $34,510. The trade was a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 of the company’s stock, valued at $24,718,770.24. This represents a 50.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 166,502 shares of company stock worth $27,472,615 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.8%

QCOM stock opened at $177.26 on Friday. 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. The firm has a 50-day simple moving average of $165.40 and a 200-day simple moving average of $156.26. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $205.95.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 earnings per share. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.0%. QUALCOMM’s payout ratio is currently 34.33%.

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.