Physicians Financial Services Inc. Sells 390 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Physicians Financial Services Inc. trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,149 shares of the wireless technology company’s stock after selling 390 shares during the period. QUALCOMM makes up about 0.9% of Physicians Financial Services Inc.’s portfolio, making the stock its 28th biggest position. Physicians Financial Services Inc.’s holdings in QUALCOMM were worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedge Capital Management L L P NC raised its holdings in shares of QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares during the last quarter. Czech National Bank lifted its position in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after purchasing an additional 13,888 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of 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 worth $1,999,114,000 after purchasing an additional 86,195 shares during the last quarter. Finally, Heritage Wealth Management Inc. purchased a new position in QUALCOMM in the 2nd quarter worth about $1,539,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on QCOM. Wells Fargo & Company upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $212.16.

QUALCOMM Stock Performance

QCOM stock traded down $1.68 during midday trading on Friday, reaching $171.23. The stock had a trading volume of 917,290 shares, compared to its average volume of 8,994,903. The firm has a fifty day simple moving average of $168.55 and a two-hundred day simple moving average of $182.14. QUALCOMM Incorporated has a 52-week low of $119.85 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a market cap of $190.75 billion, a PE ratio of 22.40, a P/E/G ratio of 1.66 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 44.04%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by company 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.