E. Ohman J or Asset Management AB Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

E. Ohman J or Asset Management AB lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,325 shares of the wireless technology company’s stock after selling 2,700 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in QUALCOMM were worth $12,639,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $27,000. HWG Holdings LP purchased a new position in QUALCOMM in the second quarter valued at $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM during the 3rd quarter worth about $36,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business’s 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 completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,245 shares of company stock valued at $3,679,407. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QCOM. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Susquehanna decreased their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.92.

QUALCOMM Trading Up 0.9 %

QCOM opened at $168.10 on Friday. The business’s 50 day moving average price is $169.30 and its 200 day moving average price is $182.15. 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 capitalization of $187.26 billion, a PE ratio of 21.77, a P/E/G ratio of 1.74 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio is currently 44.04%.

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.