Johnson Investment Counsel Inc. Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Johnson Investment Counsel Inc. decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,754 shares of the wireless technology company’s stock after selling 1,842 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in QUALCOMM were worth $4,613,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM in the first quarter valued at about $26,000. TD Capital Management LLC grew its holdings in shares of 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 purchasing an additional 120 shares during the period. Avion Wealth grew its holdings in shares of QUALCOMM by 1,830.8% in the second quarter. Avion Wealth now owns 251 shares of the wireless technology company’s stock valued at $29,000 after purchasing an additional 238 shares during the period. Pacific Center for Financial Services purchased a new stake in shares of QUALCOMM in the first quarter valued at about $31,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of QUALCOMM in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 6,001 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $110.40, for a total transaction of $662,510.40. Following the transaction, the insider now directly owns 25,229 shares in the company, valued at $2,785,281.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Alexander H. Rogers sold 6,001 shares of QUALCOMM stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $110.40, for a total value of $662,510.40. Following the transaction, the insider now directly owns 25,229 shares in the company, valued at approximately $2,785,281.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $111,270.00. Following the completion of the transaction, the insider now owns 5,745 shares in the company, valued at $639,246.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,963 shares of company stock worth $5,377,298. Insiders own 0.07% of the company’s stock.

QUALCOMM Stock Up 0.6 %

NASDAQ:QCOM traded up $0.77 during mid-day trading on Friday, hitting $129.47. The stock had a trading volume of 6,544,058 shares, compared to its average volume of 9,474,084. The company has a market capitalization of $144.49 billion, a PE ratio of 20.17, a PEG ratio of 1.44 and a beta of 1.21. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $139.94. The company has a current ratio of 2.33, a quick ratio of 1.67 and a debt-to-equity ratio of 0.67. The stock has a 50-day simple moving average of $113.29 and a two-hundred day simple moving average of $114.73.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.47%. QUALCOMM’s dividend payout ratio (DPR) is presently 49.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QCOM. Piper Sandler upped their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Wells Fargo & Company increased their target price on shares of QUALCOMM from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 12th. Morgan Stanley lowered their target price on shares of QUALCOMM from $129.00 to $119.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Deutsche Bank Aktiengesellschaft lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and lowered their target price for the stock from $130.00 to $121.00 in a research note on Thursday, August 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $145.00 target price on shares of QUALCOMM in a research note on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $137.85.

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, computing, multimedia, and position location products.