Qualcomm Incorporated $QCOM Stock Sold by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super reduced its Qualcomm stake by 22.7% in the third quarter, selling 46,588 shares and retaining 158,770 shares valued at approximately $29.2 million. Institutional investors collectively own 74.35% of Qualcomm.
• Qualcomm declared a quarterly dividend of $0.92 per share, equivalent to an annualized $3.68 dividend and a 2.3% yield.
• Analyst sentiment remains mixed: Qualcomm has a consensus “Hold” rating and an average price target of $205.48, while several firms recently lowered their targets. The stock opened at $162.08, well below its 52-week high of $259.92.

Aware Super Pty Ltd as trustee of Aware Super trimmed its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 22.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,770 shares of the wireless technology company's stock after selling 46,588 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super's holdings in Qualcomm were worth $29,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of QCOM. VCI Wealth Management LLC raised its stake in shares of Qualcomm by 23.3% in the third quarter. VCI Wealth Management LLC now owns 14,083 shares of the wireless technology company's stock worth $2,592,000 after acquiring an additional 2,663 shares during the last quarter. Garde Capital Inc. lifted its position in shares of Qualcomm by 2.1% during the third quarter. Garde Capital Inc. now owns 8,956 shares of the wireless technology company's stock worth $1,648,000 after purchasing an additional 185 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management grew its stake in shares of Qualcomm by 31.1% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 8,759 shares of the wireless technology company's stock valued at $1,612,000 after purchasing an additional 2,079 shares during the last quarter. Summit Wealth Group LLC Co. grew its stake in shares of Qualcomm by 14.9% during the third quarter. Summit Wealth Group LLC Co. now owns 1,312 shares of the wireless technology company's stock valued at $241,000 after purchasing an additional 170 shares during the last quarter. Finally, Capital Management Corp VA grew its stake in shares of Qualcomm by 18.7% during the third quarter. Capital Management Corp VA now owns 89,823 shares of the wireless technology company's stock valued at $16,531,000 after purchasing an additional 14,135 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Qualcomm Price Performance

Shares of QCOM stock opened at $162.08 on Tuesday. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The stock has a market cap of $173.08 billion, a PE ratio of 20.70, a PEG ratio of 4.12 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The firm's 50 day moving average price is $177.86 and its two-hundred day moving average price is $169.42.

Qualcomm Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. Qualcomm's payout ratio is presently 42.59%.

Insider Buying and Selling

In other news, CAO Patricia Grech sold 625 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the transaction, the chief accounting officer owned 208 shares of the company's stock, valued at $33,872.80. This represents a 75.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the firm's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the transaction, the executive vice president owned 25,770 shares in the company, valued at $4,503,307.50. This represents a 6.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 30,258 shares of company stock worth $5,727,616. Company insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Sanford C. Bernstein dropped their price objective on shares of Qualcomm from $165.00 to $155.00 and set a "market perform" rating for the company in a research report on Monday. KeyCorp reaffirmed a "sector weight" rating on shares of Qualcomm in a report on Wednesday, September 9th. Robert W. Baird set a $400.00 price objective on Qualcomm in a research report on Thursday, July 30th. UBS Group lowered their target price on Qualcomm from $190.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Finally, Citigroup dropped their target price on Qualcomm from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $205.48.

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.

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