QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,084 shares of the wireless technology company’s stock after selling 5,609 shares during the period. QUALCOMM accounts for about 2.8% of Baxter Bros Inc.’s holdings, making the stock its 11th biggest holding. Baxter Bros Inc.’s holdings in QUALCOMM were worth $21,441,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth about $26,000. HWG Holdings LP purchased a new position in QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the second quarter valued at about $32,000. Aspect Partners LLC raised its stake in shares of 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 acquiring an additional 74 shares during the period. Finally, Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird upped their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald decreased their target price on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. Piper Sandler reissued an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Barclays lifted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.92.

Insider Transactions at QUALCOMM

In related 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 transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,245 shares of company stock worth $2,395,407 over the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $165.27 on Friday. QUALCOMM Incorporated has a one year low of $114.45 and a one year high of $230.63. The stock has a market capitalization of $184.11 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.63 and a beta of 1.28. The company has a 50-day simple moving average of $168.77 and a 200-day simple moving average of $181.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS 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 firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. On average, analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared 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 2.06%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

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.