Benchmark Financial Wealth Advisors LLC Sells 495 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Cerbat Gem

Benchmark Financial Wealth Advisors LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 23.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,606 shares of the wireless technology company’s stock after selling 495 shares during the period. Benchmark Financial Wealth Advisors LLC’s holdings in QUALCOMM were worth $273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Leelyn Smith LLC purchased a new stake in QUALCOMM during the first quarter valued at approximately $208,000. Embree Financial Group bought a new stake in shares of QUALCOMM during the 1st quarter valued at $214,000. Texas Permanent School Fund Corp raised its position in shares of QUALCOMM by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 230,687 shares of the wireless technology company’s stock valued at $39,055,000 after purchasing an additional 887 shares during the period. Financial Council LLC bought a new stake in shares of QUALCOMM during the 1st quarter valued at $213,000. Finally, Advisors Capital Management LLC raised its position in shares of QUALCOMM by 5.1% during the 1st quarter. Advisors Capital Management LLC now owns 427,231 shares of the wireless technology company’s stock valued at $72,330,000 after purchasing an additional 20,834 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $165.91 on Wednesday. The company’s fifty day moving average price is $168.53 and its 200 day moving average price is $182.20. QUALCOMM Incorporated has a 1 year low of $118.38 and a 1 year high of $230.63. The company has a market capitalization of $184.82 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. 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 Dividend Announcement

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. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Cantor Fitzgerald decreased their price objective on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $207.29.

Read Our Latest Stock Analysis on QUALCOMM

Insiders Place Their Bets

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 shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction dated 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 owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

QUALCOMM Profile

(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.

Further Reading