QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Narwhal Capital Management

Narwhal Capital Management lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,206 shares of the wireless technology company’s stock after selling 664 shares during the quarter. Narwhal Capital Management’s holdings in QUALCOMM were worth $1,907,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of QUALCOMM by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 104,166,567 shares of the wireless technology company’s stock valued at $9,501,032,000 after acquiring an additional 5,845,242 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in QUALCOMM by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 10,658,831 shares of the wireless technology company’s stock valued at $972,192,000 after buying an additional 318,756 shares during the period. Nuveen Asset Management LLC raised its holdings in QUALCOMM by 24.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,535,939 shares of the wireless technology company’s stock valued at $869,773,000 after buying an additional 1,870,075 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in QUALCOMM by 2.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,350,496 shares of the wireless technology company’s stock valued at $579,229,000 after buying an additional 171,720 shares during the period. Finally, Morgan Stanley raised its holdings in QUALCOMM by 6.3% in the 1st quarter. Morgan Stanley now owns 5,838,244 shares of the wireless technology company’s stock valued at $394,958,000 after buying an additional 346,856 shares during the period. 74.79% of the stock is currently owned by institutional investors.

QUALCOMM stock opened at $125.91 on Wednesday. QUALCOMM Incorporated has a 12 month low of $58.00 and a 12 month high of $132.42. The company has a debt-to-equity ratio of 4.67, a current ratio of 1.97 and a quick ratio of 1.67. The business has a 50 day simple moving average of $119.63 and a 200-day simple moving average of $98.46. The stock has a market capitalization of $142.06 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.15. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 3.2 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio is currently 91.55%.

Several analysts recently issued reports on QCOM shares. Morgan Stanley boosted their price objective on shares of QUALCOMM from $102.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Bank of America boosted their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. BNP Paribas upgraded shares of QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Friday, September 25th. Edward Jones upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Piper Sandler boosted their price target on shares of QUALCOMM from $80.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $123.12.

In related news, President Cristiano R. Amon sold 20,530 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $130.60, for a total transaction of $2,681,218.00. Following the sale, the president now owns 50,753 shares of the company’s stock, valued at $6,628,341.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $102.42, for a total value of $401,998.50. Following the sale, the chief financial officer now directly owns 17,790 shares in the company, valued at approximately $1,822,051.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,720 shares of company stock valued at $5,348,451. Company insiders own 0.12% of the company’s stock.

About QUALCOMM

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.

Featured Article: What is a stock portfolio tracker?

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.