Kays Financial Advisory Corp ADV reduced its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,469 shares of the wireless technology company’s stock after selling 1,100 shares during the period. Kays Financial Advisory Corp ADV’s holdings in QUALCOMM were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC lifted its stake in shares of QUALCOMM by 170.9% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock worth $134,000 after acquiring an additional 1,167 shares during the period. Kiley Juergens Wealth Management LLC lifted its stake in shares of QUALCOMM by 1,760.0% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock worth $133,000 after acquiring an additional 1,760 shares during the period. Squar Milner Financial Services LLC acquired a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $106,000. Enterprise Financial Services Corp lifted its stake in shares of QUALCOMM by 151.8% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,992 shares of the wireless technology company’s stock worth $143,000 after acquiring an additional 1,201 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $152,000. 76.93% of the stock is owned by institutional investors.
In other news, EVP Alexander H. Rogers sold 853 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $63.50, for a total transaction of $54,165.50. Following the sale, the executive vice president now owns 4,344 shares in the company, valued at $275,844. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cristiano R. Amon sold 88,625 shares of the business’s stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the sale, the president now owns 58,045 shares in the company, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. Insiders sold a total of 91,638 shares of company stock worth $6,302,079 over the last quarter. Insiders own 0.24% of the company’s stock.
QUALCOMM announced that its board has initiated a share buyback plan on Thursday, July 26th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to reacquire up to 34.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be issued a $0.62 dividend. The ex-dividend date is Wednesday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.90%. QUALCOMM’s payout ratio is currently 65.61%.
A number of brokerages have recently weighed in on QCOM. Deutsche Bank upped their price target on shares of QUALCOMM to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, September 19th. KeyCorp began coverage on shares of QUALCOMM in a research note on Tuesday, September 25th. They issued a “sector weight” rating for the company. BidaskClub raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Canaccord Genuity reduced their price target on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, September 25th. Finally, Tigress Financial reiterated a “buy” rating on shares of QUALCOMM in a report on Friday, September 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $72.57.
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QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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