Keystone Financial Planning Inc. Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Keystone Financial Planning Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,741 shares of the wireless technology company’s stock after selling 133 shares during the quarter. QUALCOMM makes up approximately 1.4% of Keystone Financial Planning Inc.’s investment portfolio, making the stock its 18th largest position. Keystone Financial Planning Inc.’s holdings in QUALCOMM were worth $4,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Wedge Capital Management L L P NC grew its position in shares of QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after buying an additional 50,438 shares in the last quarter. Czech National Bank raised its stake in shares of QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after buying an additional 13,888 shares during the period. Legal & General Group Plc lifted its position in shares of QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new stake in QUALCOMM in the 2nd quarter valued at $1,539,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on QCOM. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $165.27 on Friday. The business has a 50-day simple moving average of $168.77 and a 200-day simple moving average of $181.90. The company has a market cap of $184.11 billion, a PE ratio of 21.41, a P/E/G ratio of 1.68 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $114.45 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

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. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm 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. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,245 shares of company stock worth $2,395,407 over the last ninety days. Corporate 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.