Avantax Planning Partners Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,480 shares of the wireless technology company's stock after selling 454 shares during the period. Avantax Planning Partners Inc.'s holdings in QUALCOMM were worth $955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $2,266,923,000. Cowa LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $94,000. BlackRock Inc. boosted its position in shares of QUALCOMM by 4.3% during the 4th quarter. BlackRock Inc. now owns 81,379,537 shares of the wireless technology company's stock worth $14,881,876,000 after purchasing an additional 3,319,939 shares during the period. Capital International Investors boosted its position in shares of QUALCOMM by 63.2% during the 4th quarter. Capital International Investors now owns 6,843,216 shares of the wireless technology company's stock worth $1,251,413,000 after purchasing an additional 2,648,829 shares during the period. Finally, Vanguard Group Inc. boosted its position in QUALCOMM by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 105,592,786 shares of the wireless technology company's stock valued at $16,136,689,000 after buying an additional 1,570,961 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. DZ Bank cut shares of QUALCOMM from a "buy" rating to a "hold" rating and set a $150.00 price objective for the company. in a research report on Friday, July 29th. Cowen set a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, July 19th. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $150.00 to $135.00 and set an "equal weight" rating for the company in a research report on Monday, July 11th. KeyCorp lifted their price target on shares of QUALCOMM from $200.00 to $220.00 in a research note on Monday, June 13th. Finally, Edward Jones upgraded shares of QUALCOMM from a "hold" rating to a "buy" rating in a research note on Thursday, July 28th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $191.04.
Insider Buying and Selling
In related news, insider James J. Cathey sold 2,084 shares of the business's stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $126.51, for a total transaction of $263,646.84. Following the sale, the insider now owns 917 shares of the company's stock, valued at $116,009.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through
this link. 0.05% of the stock is owned by insiders.
QUALCOMM Stock Down 2.0 %
Shares of NASDAQ:QCOM opened at $121.19 on Monday. The company has a market cap of $136.10 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.70 and a beta of 1.23. The firm's 50-day simple moving average is $140.02 and its 200-day simple moving average is $138.96. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.85. QUALCOMM Incorporated has a fifty-two week low of $118.22 and a fifty-two week high of $193.58.
QUALCOMM (NASDAQ:QCOM – Get Rating) last issued its earnings results on Wednesday, July 27th. The wireless technology company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.08. The business had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $10.85 billion. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The business's quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 earnings per share. As a group, equities research analysts predict that QUALCOMM Incorporated will post 10.95 earnings per share for the current year.
QUALCOMM Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Wednesday, August 31st. QUALCOMM's payout ratio is 26.57%.
QUALCOMM Company Profile
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QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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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