Constitution Capital LLC reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,930 shares of the wireless technology company’s stock after selling 200 shares during the period. Constitution Capital LLC’s holdings in QUALCOMM were worth $230,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Milestone Investment Advisors LLC purchased a new position in QUALCOMM during the first quarter worth approximately $26,000. TD Capital Management LLC lifted its position in QUALCOMM by 118.8% during the first 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 in the last quarter. Pacific Center for Financial Services purchased a new position in QUALCOMM during the first quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new position in QUALCOMM during the first quarter worth approximately $32,000. Finally, Ruedi Wealth Management Inc. purchased a new position in QUALCOMM during the fourth quarter worth approximately $28,000. 71.10% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at QUALCOMM
In other news, insider James J. Cathey sold 1,000 shares of the company’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 transaction, the insider now directly owns 5,745 shares of the company’s stock, valued at approximately $639,246.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CTO James H. Thompson sold 27,962 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 241,369 shares of the company’s stock, valued at approximately $27,330,211.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.27, for a total value of $111,270.00. Following the completion of the sale, the insider now directly owns 5,745 shares of the company’s stock, valued at $639,246.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,962 shares of company stock valued at $3,391,567. 0.07% of the stock is currently owned by corporate insiders.
QUALCOMM Stock Down 2.0 %
QUALCOMM (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.05. The business had revenue of $8.45 billion during 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%. Sell-side analysts predict that QUALCOMM Incorporated will post 6.41 EPS for the current year.
QUALCOMM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 31st will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.90%. QUALCOMM’s dividend payout ratio is currently 41.88%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on QCOM shares. Susquehanna reduced their price objective on QUALCOMM from $145.00 to $140.00 and set a “positive” rating on the stock in a research report on Thursday, August 3rd. Wells Fargo & Company lifted their target price on QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a research report on Tuesday, September 12th. KeyCorp restated an “overweight” rating and issued a $145.00 target price on shares of QUALCOMM in a research report on Thursday, September 14th. Wolfe Research started coverage on QUALCOMM in a research report on Wednesday, July 19th. They issued an “outperform” rating and a $145.00 target price on the stock. Finally, StockNews.com downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $141.96.
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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