NCM Capital Management LLC Has $1.51 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

NCM Capital Management LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the third quarter, HoldingsChannel.com reports. The fund owned 8,887 shares of the wireless technology company’s stock after selling 100 shares during the quarter. NCM Capital Management LLC’s holdings in QUALCOMM were worth $1,511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC bought a new position in shares of QUALCOMM in the 1st quarter valued at $44,000. American Trust grew its position in QUALCOMM by 3.4% in the first quarter. American Trust now owns 3,330 shares of the wireless technology company’s stock valued at $564,000 after acquiring an additional 110 shares during the last quarter. Bright Futures Wealth Management LLC. acquired a new position in QUALCOMM during the first quarter worth about $249,000. Transcend Capital Advisors LLC boosted its stake in shares of QUALCOMM by 1.4% in the 2nd quarter. Transcend Capital Advisors LLC now owns 12,335 shares of the wireless technology company’s stock valued at $2,457,000 after purchasing an additional 169 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of QUALCOMM by 91.1% during the 2nd quarter. GAMMA Investing LLC now owns 13,752 shares of the wireless technology company’s stock valued at $2,739,000 after purchasing an additional 6,554 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on QCOM. Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Trading Up 1.4 %

NASDAQ:QCOM opened at $158.53 on Friday. QUALCOMM Incorporated has a 12 month low of $127.49 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $176.13 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.63 and a beta of 1.28. The firm has a fifty day simple moving average of $166.64 and a two-hundred day simple moving average of $180.74.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,450 shares of company stock worth $2,911,306. Corporate insiders own 0.08% of the company’s stock.

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.