Qualcomm Incorporated $QCOM Stock Sold by Profund Advisors LLC

Profund Advisors LLC cut its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,583 shares of the wireless technology company’s stock after selling 13,187 shares during the period. Qualcomm comprises 0.7% of Profund Advisors LLC’s portfolio, making the stock its 24th biggest position. 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 have also modified their holdings of QCOM. ABS Investment Management LLC acquired a new stake in Qualcomm during the 2nd quarter valued at approximately $34,000. ABS Direct Equity Fund LLC acquired a new position in Qualcomm during the second quarter worth $34,000. Your Advocates Ltd. LLP purchased a new position in shares of Qualcomm in the 1st quarter valued at about $26,000. Burk Holdings LLC lifted its stake in Qualcomm by 191.7% in the second quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock valued at $39,000 after buying an additional 138 shares during the last quarter. Finally, Harborfront Financial Group LLC purchased a new position in Qualcomm in the second quarter worth $41,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $160.00 price target on shares of Qualcomm in a research note on Thursday, July 30th. Freedom Capital raised Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Morgan Stanley lowered their price target on Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Rosenblatt Securities reiterated a “buy” rating and set a $235.00 price objective on shares of Qualcomm in a research note on Wednesday, September 9th. Finally, Oppenheimer set a $200.00 price target on shares of Qualcomm in a report on Monday, July 27th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $205.83.

Insiders Place Their Bets

In other Qualcomm news, CAO Patricia Y. Grech sold 625 shares of Qualcomm stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the transaction, the chief accounting officer directly owned 208 shares of the company’s stock, valued at $33,872.80. The trade was a 75.03% decrease in their ownership of the stock. The sale 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, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction of $457,125.00. Following the sale, the executive vice president directly owned 18,184 shares in the company, valued at approximately $3,324,944.40. The trade was a 12.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 33,458 shares of company stock valued at $6,198,144. 0.05% of the stock is currently owned by company insiders.

Qualcomm Stock Performance

Shares of QCOM stock opened at $164.79 on Friday. The stock has a market cap of $175.97 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 3.71 and a beta of 1.65. The company’s fifty day moving average price is $177.83 and its 200-day moving average price is $169.44. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.69 billion. During the same quarter last year, the company posted $2.77 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts expect that Qualcomm Incorporated will post 7.71 EPS for the current fiscal year.

Qualcomm Dividend Announcement

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