Livforsakringsbolaget Skandia Omsesidigt decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,123 shares of the wireless technology company’s stock after selling 6,800 shares during the quarter. QUALCOMM makes up 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 24th biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in QUALCOMM were worth $8,106,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth approximately $26,000. Corrado Advisors LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $27,000. Ruedi Wealth Management Inc. bought a new position in QUALCOMM in the 4th quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group grew its position in QUALCOMM by 53.9% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock valued at $28,000 after purchasing an additional 90 shares during the last quarter. Finally, TD Capital Management LLC raised its holdings in QUALCOMM by 118.8% in 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 during the last quarter. Hedge funds and other institutional investors own 71.10% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. StockNews.com started coverage on QUALCOMM in a report on Thursday, August 17th. They issued a “buy” rating for the company. Morgan Stanley upped their price target on QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. UBS Group lifted their price objective on QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. Finally, Bank of America upped their target price on shares of QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.96.
QUALCOMM Stock Performance
Shares of NASDAQ:QCOM traded up $1.47 during mid-day trading on Thursday, reaching $114.11. 1,806,895 shares of the company traded hands, compared to its average volume of 8,109,948. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $139.94. The firm has a market cap of $127.35 billion, a PE ratio of 14.74, a PEG ratio of 1.04 and a beta of 1.23. The company’s 50 day moving average price is $117.29 and its 200-day moving average price is $117.11. 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 posted its quarterly earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.51 billion. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. On average, equities analysts expect that QUALCOMM Incorporated will post 6.41 EPS for the current fiscal year.
QUALCOMM Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a yield of 2.80%. QUALCOMM’s dividend payout ratio is presently 41.88%.
In related news, CTO James H. Thompson sold 27,962 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the sale, the chief technology officer now owns 241,369 shares in the company, valued at $27,330,211.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $114.16, for a total transaction of $114,160.00. Following the completion of the transaction, the insider now owns 6,745 shares of the company’s stock, valued at approximately $770,009.20. The transaction was disclosed in a legal filing 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 dated Wednesday, September 13th. The shares were 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 owns 241,369 shares of the company’s stock, valued at approximately $27,330,211.87. The disclosure for this sale can be found here. Insiders have sold 29,962 shares of company stock worth $3,391,567 over the last ninety days. Corporate insiders own 0.07% of the company’s stock.
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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