Elgethun Capital Management Sells 362 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Elgethun Capital Management cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 34.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 693 shares of the wireless technology company’s stock after selling 362 shares during the quarter. Elgethun Capital Management’s holdings in QUALCOMM were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after purchasing an additional 340 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $55,000. APG Asset Management US Inc. lifted its holdings in shares of QUALCOMM by 2.9% during the fourth quarter. APG Asset Management US Inc. now owns 35,068 shares of the wireless technology company’s stock valued at $5,387,000 after purchasing an additional 992 shares during the last quarter. Finally, One Degree Advisors Inc lifted its holdings in shares of QUALCOMM by 4.4% during the fourth quarter. One Degree Advisors Inc now owns 2,348 shares of the wireless technology company’s stock valued at $361,000 after purchasing an additional 99 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on QCOM. Piper Sandler decreased their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. UBS Group boosted their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Benchmark decreased their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Robert W. Baird decreased their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the stock an “outperform” rating in a report on Monday, July 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $181.10.

QUALCOMM Trading Down 0.6%

Shares of QCOM stock opened at $145.84 on Thursday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The firm has a fifty day moving average price of $155.08 and a 200-day moving average price of $154.58. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company has a market cap of $157.36 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 2.14 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. QUALCOMM’s payout ratio is presently 34.33%.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the completion of the transaction, the chief financial officer directly owned 43,207 shares of the company’s stock, valued at $6,398,956.70. This represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,352,355 in the last 90 days. Company insiders own 0.08% of the company’s stock.

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.