Keel Point LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,027 shares of the wireless technology company’s stock after acquiring an additional 1,707 shares during the quarter. Keel Point LLC’s holdings in QUALCOMM were worth $4,289,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Milestone Investment Advisors LLC purchased a new stake in QUALCOMM during the first quarter worth approximately $26,000. TD Capital Management LLC grew its stake in QUALCOMM by 118.8% during the 1st quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock worth $28,000 after buying an additional 120 shares during the last quarter. Pacific Center for Financial Services acquired a new position in QUALCOMM during the first quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in QUALCOMM in the first quarter valued at approximately $32,000. Finally, Ruedi Wealth Management Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 71.10% of the company’s stock.
Analysts Set New Price Targets
QCOM has been the subject of several research reports. Susquehanna reduced their price target on shares of QUALCOMM from $145.00 to $140.00 and set a “positive” rating for the company in a research report on Thursday, August 3rd. Wells Fargo & Company boosted their price target on QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a research report on Tuesday, September 12th. StockNews.com downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $159.00 to $148.00 in a report on Thursday, August 3rd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $145.00 price objective on shares of QUALCOMM in a research note on Thursday, September 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.96.
Insider Transactions at QUALCOMM
In other QUALCOMM news, CTO James H. Thompson sold 27,962 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $113.23, for a total value of $3,166,137.26. Following the completion of the transaction, the chief technology officer now directly owns 241,369 shares in the company, valued at approximately $27,330,211.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the insider now owns 5,745 shares in the company, valued at approximately $639,246.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 27,962 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the transaction, the chief technology officer now owns 241,369 shares in the company, valued at approximately $27,330,211.87. The disclosure for this sale can be found here. Insiders sold a total of 29,962 shares of company stock worth $3,391,567 over the last ninety days. 0.07% of the stock is currently owned by corporate insiders.
QUALCOMM Price Performance
QCOM traded down $2.06 during midday trading on Tuesday, reaching $110.69. 1,728,750 shares of the company’s stock were exchanged, compared to its average volume of 8,110,875. The business’s 50-day moving average price is $117.12 and its 200 day moving average price is $116.90. The stock has a market capitalization of $121.76 billion, a PE ratio of 14.76, a P/E/G ratio of 1.10 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $139.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.42 and a quick ratio of 1.64.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.51 billion. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 6.41 EPS for the current fiscal year.
QUALCOMM Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be issued a $0.80 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a yield of 2.89%. QUALCOMM’s dividend payout ratio (DPR) is 41.88%.
QUALCOMM Company 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, application processing, multimedia, and global positioning system products.
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