Westhampton Capital LLC Has $2.41 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Westhampton Capital LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.9% in the third quarter, Holdings Channel.com reports. The firm owned 14,146 shares of the wireless technology company’s stock after selling 1,725 shares during the period. QUALCOMM comprises 1.2% of Westhampton Capital LLC’s holdings, making the stock its 21st largest holding. Westhampton Capital LLC’s holdings in QUALCOMM were worth $2,406,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pine Haven Investment Counsel Inc grew its stake in shares of QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after acquiring an additional 50 shares during the period. Buffington Mohr McNeal lifted its holdings in QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after purchasing an additional 53 shares in the last quarter. TRUE Private Wealth Advisors lifted its holdings in shares of QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after buying an additional 57 shares in the last quarter. Macroview Investment Management LLC boosted its holdings in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after purchasing an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its stake in QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,245 shares of company stock valued at $3,679,407. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $173.18 on Wednesday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock’s fifty day simple moving average is $169.31 and its 200 day simple moving average is $182.26. The stock has a market capitalization of $192.92 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.71 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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 issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.96%. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Analyst Ratings Changes

Several research analysts recently commented on QCOM shares. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Barclays raised their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $207.92.

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.