Leo Wealth LLC Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Leo Wealth LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.6% during the third quarter, Holdings Channel.com reports. The fund owned 3,034 shares of the wireless technology company’s stock after selling 147 shares during the period. Leo Wealth LLC’s holdings in QUALCOMM were worth $516,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter valued at $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter valued at $30,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth about $32,000. Aspect Partners LLC raised its stake in 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 purchasing an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new position in QUALCOMM in the 1st quarter valued at about $37,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company boosted their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on 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 directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were 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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. 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 22,245 shares of company stock worth $3,679,407. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $173.18 on Wednesday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a market capitalization of $192.92 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. 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 firm has a fifty day simple moving average of $169.31 and a 200-day simple moving average of $182.26.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

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.