Embree Financial Group Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Embree Financial Group trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,584 shares of the wireless technology company’s stock after selling 101 shares during the quarter. Embree Financial Group’s holdings in QUALCOMM were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Rockland Trust Co. purchased a new position in QUALCOMM in the first quarter valued at about $231,000. City Holding Co. lifted its stake in shares of QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after buying an additional 199 shares in the last quarter. Game Plan Financial Advisors LLC lifted its stake in shares of QUALCOMM by 0.7% during the 1st quarter. Game Plan Financial Advisors LLC now owns 13,515 shares of the wireless technology company’s stock valued at $2,288,000 after buying an additional 100 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $116,000. Finally, CHICAGO TRUST Co NA lifted its stake in shares of QUALCOMM by 3.9% during the 1st quarter. CHICAGO TRUST Co NA now owns 5,649 shares of the wireless technology company’s stock valued at $956,000 after buying an additional 210 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’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 sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,245 shares of company stock valued at $3,679,407. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $170.92 on Friday. 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 Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The firm’s fifty day moving average is $169.11 and its 200 day moving average is $182.19. The firm has a market cap of $190.75 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.79 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Research analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Wall Street Analyst Weigh In

A number of analysts recently commented on QCOM shares. Susquehanna upped their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Cantor Fitzgerald dropped their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Rosenblatt Securities upped their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $208.75.

QUALCOMM Profile

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.