QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Spring Capital Management LLC

Spring Capital Management LLC lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,822 shares of the wireless technology company’s stock after selling 1,251 shares during the quarter. QUALCOMM accounts for about 6.5% of Spring Capital Management LLC’s holdings, making the stock its 4th biggest position. Spring Capital Management LLC’s holdings in QUALCOMM were worth $8,812,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares during the period. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM during the 1st quarter worth $1,171,516,000. Van ECK Associates Corp raised its stake in shares of QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after buying an additional 1,519,781 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after buying an additional 173,673 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of QUALCOMM by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,476,901 shares of the wireless technology company’s stock worth $588,639,000 after buying an additional 26,187 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on QCOM. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Rosenblatt Securities boosted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company boosted their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.92.

QUALCOMM Stock Performance

QCOM traded down $4.68 during trading on Wednesday, reaching $168.50. 1,838,135 shares of the company were exchanged, compared to its average volume of 8,995,095. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The stock has a market cap of $187.71 billion, a P/E ratio of 22.43, a PEG ratio of 1.71 and a beta of 1.28. The firm has a 50 day moving average of $169.31 and a 200 day moving average of $182.26. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $9.23 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio is currently 44.04%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.