Jacobs & Co. CA Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Jacobs & Co. CA lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,946 shares of the wireless technology company’s stock after selling 327 shares during the quarter. QUALCOMM comprises 1.5% of Jacobs & Co. CA’s portfolio, making the stock its 20th biggest holding. Jacobs & Co. CA’s holdings in QUALCOMM were worth $12,373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QCOM. Milestone Investment Advisors LLC bought a new stake in QUALCOMM during the 1st quarter valued at approximately $26,000. TD Capital Management LLC raised its stake in QUALCOMM by 118.8% during the 1st quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after purchasing an additional 120 shares during the period. Pacific Center for Financial Services bought a new stake in QUALCOMM during the 1st quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL bought a new stake in QUALCOMM in the 1st quarter worth approximately $32,000. Finally, Ruedi Wealth Management Inc. bought a new stake in QUALCOMM in the 4th quarter worth approximately $28,000. Institutional investors own 71.10% of the company’s stock.

QUALCOMM Trading Up 0.2 %

QCOM opened at $113.35 on Monday. The firm has a market cap of $124.69 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.11 and a beta of 1.23. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $139.94. The stock has a fifty day moving average price of $117.12 and a 200-day moving average price of $116.90.

QUALCOMM (NASDAQ:QCOM) last released its quarterly 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. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.51 billion. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 6.41 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm 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. This represents a $3.20 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, August 30th. QUALCOMM’s dividend payout ratio is currently 41.88%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on QCOM shares. Wells Fargo & Company lifted their price objective on QUALCOMM from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 12th. Wolfe Research started coverage on QUALCOMM in a research note on Wednesday, July 19th. They issued an “outperform” rating and a $145.00 price objective on the stock. Piper Sandler lifted their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Mizuho reiterated a “buy” rating and issued a $140.00 target price on shares of QUALCOMM in a report on Wednesday, August 23rd. Finally, UBS Group lifted their target price on QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $141.96.

Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the transaction, the insider now directly owns 5,745 shares of the company’s stock, valued at approximately $639,246.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the sale, the insider now owns 5,745 shares in the company, valued at approximately $639,246.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 27,962 shares of the business’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 sale, the chief technology officer now owns 241,369 shares in the company, 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 valued at $3,391,567 in the last ninety days. Corporate insiders own 0.07% of the company’s stock.

About QUALCOMM

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.