QUALCOMM Incorporated $QCOM Shares Sold by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,128 shares of the wireless technology company’s stock after selling 196 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in QUALCOMM were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC increased its position in shares of 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 valued at $26,000 after acquiring an additional 93 shares during the period. Atlantic Edge Private Wealth Management LLC grew its position in QUALCOMM by 70.0% during 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 during the period. Chung Wu Investment Group LLC acquired a new stake in QUALCOMM during the 2nd quarter worth about $32,000. Harbor Asset Planning Inc. acquired a new stake in QUALCOMM during the 2nd quarter worth about $32,000. Finally, Atticus Wealth Management LLC grew its position in QUALCOMM by 21,200.0% during 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 during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QCOM shares. Susquehanna increased their price target on QUALCOMM from $190.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Mizuho cut their price target on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Weiss Ratings raised QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Piper Sandler cut their price target on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Finally, Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $183.95.

QUALCOMM Trading Up 2.1%

QCOM stock opened at $180.90 on Friday. The company’s 50-day simple moving average is $165.85 and its 200-day simple moving average is $156.54. 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. The firm has a market cap of $195.19 billion, a P/E ratio of 17.44, a PEG ratio of 2.59 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping 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 business 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 company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total value of $24,834,000.00. Following the transaction, the chief executive officer directly owned 149,304 shares of the company’s stock, valued at approximately $24,718,770.24. This trade represents a 50.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Patricia Y. Grech sold 273 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $161.42, for a total transaction of $44,067.66. Following the completion of the transaction, the chief accounting officer directly owned 404 shares in the company, valued at $65,213.68. This represents a 40.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 166,502 shares of company stock valued at $27,472,615. 0.08% of the stock is owned by corporate insiders.

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.