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QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by South Shore Capital Advisors

Financial News Live · Sep 26, 2022 14:12

South Shore Capital Advisors decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 23.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,303 shares of the wireless technology company's stock after selling 1,619 shares during the period. QUALCOMM makes up approximately 1.4% of South Shore Capital Advisors' investment portfolio, making the stock its 19th largest position. South Shore Capital Advisors' holdings in QUALCOMM were worth $677,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 105,592,786 shares of the wireless technology company's stock worth $16,136,689,000 after buying an additional 1,570,961 shares during the last quarter. BlackRock Inc. increased its holdings in shares of QUALCOMM by 0.8% during the 1st quarter. BlackRock Inc. now owns 82,022,847 shares of the wireless technology company's stock worth $12,534,730,000 after buying an additional 643,310 shares during the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $2,266,923,000. Capital International Investors increased its holdings in shares of QUALCOMM by 33.4% during the 1st quarter. Capital International Investors now owns 9,128,186 shares of the wireless technology company's stock worth $1,394,965,000 after buying an additional 2,284,970 shares during the last quarter. Finally, Cowa LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $94,000. Institutional investors and hedge funds own 71.55% of the company's stock.

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Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 2,084 shares of the business's stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $126.51, for a total value of $263,646.84. Following the completion of the sale, the insider now directly owns 917 shares of the company's stock, valued at $116,009.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Thursday, July 28th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $205.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, July 14th. KeyCorp lifted their target price on shares of QUALCOMM from $200.00 to $220.00 in a report on Monday, June 13th. Mizuho lifted their target price on shares of QUALCOMM from $168.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, July 28th. Finally, DZ Bank downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating and set a $150.00 target price for the company. in a report on Friday, July 29th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $191.04.

QUALCOMM Stock Down 0.3 %

Shares of QUALCOMM stock traded down $0.36 during trading on Monday, hitting $120.83. 142,622 shares of the stock were exchanged, compared to its average volume of 9,865,458. The stock has a market cap of $135.69 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 0.70 and a beta of 1.23. The firm's 50-day moving average price is $140.02 and its 200 day moving average price is $138.96. QUALCOMM Incorporated has a 12-month low of $118.22 and a 12-month high of $193.58. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.61 and a quick ratio of 1.15.

QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.08. The business had revenue of $10.93 billion during the quarter, compared to analysts' expectations of $10.85 billion. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The company's revenue for the quarter was up 36.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 EPS. As a group, analysts forecast that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a $0.75 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. QUALCOMM's dividend payout ratio (DPR) is presently 26.57%.

About QUALCOMM

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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.