DnB Asset Management AS decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 692,935 shares of the wireless technology company’s stock after selling 133,785 shares during the quarter. DnB Asset Management AS owned 0.06% of QUALCOMM worth $82,487,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of QCOM. Milestone Investment Advisors LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth $26,000. TD Capital Management LLC grew its position in QUALCOMM by 118.8% in the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after acquiring an additional 120 shares during the last quarter. Corrado Advisors LLC acquired a new position in QUALCOMM during the fourth quarter worth about $27,000. Pacific Center for Financial Services acquired a new position in QUALCOMM during the first quarter worth about $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of QUALCOMM in the first quarter worth about $32,000. 71.10% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on QCOM shares. Deutsche Bank Aktiengesellschaft lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and decreased their price target for the company from $130.00 to $121.00 in a report on Thursday, August 3rd. UBS Group boosted their target price on shares of QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, July 24th. Mizuho reiterated a “buy” rating and issued a $140.00 price target on shares of QUALCOMM in a research note on Wednesday, August 23rd. KeyCorp reissued an “overweight” rating and set a $145.00 price objective on shares of QUALCOMM in a report on Thursday. Finally, StockNews.com initiated coverage on QUALCOMM in a report on Thursday, August 17th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.96.
QUALCOMM Trading Up 1.2 %
Shares of QCOM traded up $1.31 during trading hours on Thursday, hitting $113.95. 1,913,011 shares of the stock were exchanged, compared to its average volume of 8,111,113. The business has a 50-day moving average of $117.29 and a 200-day moving average of $117.11. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week 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. The firm has a market capitalization of $127.17 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last released its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.35 by $0.05. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.51 billion. On average, research analysts expect that QUALCOMM Incorporated will post 6.41 EPS for the current year.
QUALCOMM Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 31st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.81%. QUALCOMM’s payout ratio is presently 41.88%.
Insider Buying and Selling
In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was 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 in the company, valued at approximately $639,246.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 27,962 shares of the company’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 241,369 shares in the company, valued at $27,330,211.87. The disclosure for this sale can be found here. Insiders have sold a total of 29,962 shares of company stock valued at $3,391,567 over the last ninety days. 0.07% of the stock is owned by corporate insiders.
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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