QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Rheos Capital Works Inc.

by · The Markets Daily

Rheos Capital Works Inc. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 50.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,400 shares of the wireless technology company’s stock after selling 250,000 shares during the quarter. QUALCOMM accounts for about 2.2% of Rheos Capital Works Inc.’s holdings, making the stock its 6th largest holding. Rheos Capital Works Inc.’s holdings in QUALCOMM were worth $42,410,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. HWG Holdings LP purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $30,000. WFA Asset Management Corp purchased a new stake in QUALCOMM during the 1st quarter worth approximately $27,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC increased its stake in 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 buying an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its stake in QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several research reports. Wells Fargo & Company boosted their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, July 17th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $208.75.

View Our Latest Stock Report on QCOM

QUALCOMM Trading Down 1.5 %

Shares of NASDAQ QCOM opened at $171.48 on Thursday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $168.86 and a 200-day simple moving average of $182.20. The stock has a market capitalization of $191.37 billion, a PE ratio of 23.05, a PEG ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was 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 directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM 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 sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,245 shares of company stock worth $3,679,407. Company insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.

See Also

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