FSM Wealth Advisors LLC Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

FSM Wealth Advisors LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,352 shares of the wireless technology company’s stock after selling 224 shares during the period. FSM Wealth Advisors LLC’s holdings in QUALCOMM were worth $1,093,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Moneta Group Investment Advisors LLC grew its holdings in shares of QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares during the last quarter. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at $1,467,351,000. Cowa LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at $94,000. Morgan Stanley boosted its position in QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after buying an additional 3,929,586 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in QUALCOMM by 409.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,011,105 shares of the wireless technology company’s stock valued at $331,039,000 after buying an additional 2,419,686 shares during the period. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Insider Activity

In other news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the transaction, the insider now owns 5,745 shares in the company, valued at $639,246.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 27,962 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $27,330,211.87. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction that occurred on 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 owns 5,745 shares in the company, valued at approximately $639,246.15. The disclosure for this sale can be found here. Insiders have sold a total of 29,962 shares of company stock worth $3,391,567 over the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Up 0.2 %

NASDAQ:QCOM traded up $0.24 during mid-day trading on Monday, reaching $113.38. The company’s stock had a trading volume of 2,169,299 shares, compared to its average volume of 8,131,021. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $139.94. The stock has a fifty day moving average of $117.12 and a 200-day moving average of $116.90. The firm has a market capitalization of $124.72 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.70.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 company 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 6.41 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, August 30th. QUALCOMM’s payout ratio is 41.88%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group increased their price target on shares of QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Bank of America raised their price objective on shares of QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. StockNews.com initiated coverage on shares of QUALCOMM in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Susquehanna dropped their price objective on shares of QUALCOMM from $145.00 to $140.00 and set a “positive” rating on the stock in a report on Thursday, August 3rd. Finally, Piper Sandler raised their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.