Belmont Capital LLC Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Belmont Capital LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 49.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,024 shares of the wireless technology company’s stock after selling 1,000 shares during the period. Belmont Capital LLC’s holdings in QUALCOMM were worth $174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Caprock Group LLC raised its position in shares of QUALCOMM by 7.7% in the 3rd quarter. Caprock Group LLC now owns 33,407 shares of the wireless technology company’s stock worth $5,681,000 after buying an additional 2,375 shares during the period. OneAscent Wealth Management LLC acquired a new stake in QUALCOMM during the third quarter worth about $352,000. Tidemark LLC raised its holdings in shares of QUALCOMM by 13.6% in the 3rd quarter. Tidemark LLC now owns 1,214 shares of the wireless technology company’s stock worth $206,000 after purchasing an additional 145 shares during the period. Drive Wealth Management LLC lifted its stake in shares of QUALCOMM by 54.0% in the 3rd quarter. Drive Wealth Management LLC now owns 6,712 shares of the wireless technology company’s stock valued at $1,141,000 after purchasing an additional 2,353 shares in the last quarter. Finally, Capital City Trust Co. FL purchased a new stake in shares of QUALCOMM during the 3rd quarter worth about $203,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several research reports. Robert W. Baird raised their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Morgan Stanley cut their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Sanford C. Bernstein boosted their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.92.

Get Our Latest Research Report on QCOM

QUALCOMM Stock Performance

Shares of QCOM opened at $164.50 on Tuesday. The company has a market cap of $182.76 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The firm has a 50-day moving average of $168.42 and a 200-day moving average of $182.23. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 over the last quarter. Company insiders own 0.08% of the company’s stock.

About QUALCOMM

(Free Report)

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.

Featured Articles