Qualcomm Incorporated $QCOM Shares Sold by Profund Advisors LLC

Profund Advisors LLC lessened its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,583 shares of the wireless technology company’s stock after selling 13,187 shares during the quarter. Qualcomm makes up approximately 0.7% of Profund Advisors LLC’s holdings, making the stock its 24th largest holding. Profund Advisors LLC’s holdings in Qualcomm were worth $24,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. JFS Wealth Advisors LLC boosted its stake in Qualcomm by 3.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company’s stock worth $295,000 after purchasing an additional 53 shares during the period. Canopy Partners LLC raised its position in shares of Qualcomm by 1.4% in the 3rd quarter. Canopy Partners LLC now owns 4,148 shares of the wireless technology company’s stock valued at $763,000 after acquiring an additional 56 shares during the period. Wall Street Financial Group Inc. increased its stake in Qualcomm by 1.9% in the 2nd quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company’s stock valued at $564,000 after buying an additional 57 shares during the last quarter. Sunbeam Capital Management LLC raised its holdings in Qualcomm by 3.7% in the 2nd quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company’s stock valued at $303,000 after acquiring an additional 58 shares during the period. Finally, LaFleur & Godfrey LLC increased its holdings in Qualcomm by 3.6% in the 3rd quarter. LaFleur & Godfrey LLC now owns 1,656 shares of the wireless technology company’s stock valued at $305,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on QCOM shares. TD Cowen lifted their price objective on shares of Qualcomm from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, October 19th. Royal Bank Of Canada increased their price target on Qualcomm from $160.00 to $180.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 9th. Piper Sandler began coverage on shares of Qualcomm in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $190.00 target price on the stock. The Goldman Sachs Group set a $160.00 price objective on Qualcomm in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qualcomm in a research note on Monday, September 21st. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $205.83.

Insider Transactions at Qualcomm

In related news, CAO Patricia Y. Grech sold 625 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $162.85, for a total value of $101,781.25. Following the transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $33,872.80. This represents a 75.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $200.00, for a total value of $2,000,000.00. Following the sale, the chief executive officer directly owned 177,568 shares of the company’s stock, valued at approximately $35,513,600. This trade represents a 5.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 33,458 shares of company stock valued at $6,198,144. Corporate insiders own 0.05% of the company’s stock.

Qualcomm Trading Down 11.1%

QCOM stock opened at $164.79 on Friday. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The company has a market cap of $175.97 billion, a P/E ratio of 19.07, a PEG ratio of 3.71 and a beta of 1.65. The business has a fifty day moving average of $177.83 and a 200-day moving average of $169.44.

Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.77 EPS. As a group, equities research analysts expect that Qualcomm Incorporated will post 7.71 EPS for the current year.

Qualcomm Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.2%. Qualcomm’s dividend payout ratio is currently 42.59%.

About Qualcomm

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.