Safeguard Investment Advisory Group LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 21.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,067 shares of the wireless technology company’s stock after selling 551 shares during the quarter. Safeguard Investment Advisory Group LLC’s holdings in QUALCOMM were worth $246,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Vision Capital Management Inc. grew its position in shares of QUALCOMM by 5.6% during the 2nd quarter. Vision Capital Management Inc. now owns 25,768 shares of the wireless technology company’s stock valued at $3,067,000 after acquiring an additional 1,359 shares during the period. Choate Investment Advisors boosted its position in QUALCOMM by 11.4% during the second quarter. Choate Investment Advisors now owns 22,306 shares of the wireless technology company’s stock worth $2,655,000 after purchasing an additional 2,280 shares in the last quarter. Fort Sheridan Advisors LLC grew its holdings in QUALCOMM by 22.9% in the second quarter. Fort Sheridan Advisors LLC now owns 15,566 shares of the wireless technology company’s stock valued at $1,853,000 after purchasing an additional 2,900 shares during the period. Arizona State Retirement System increased its position in shares of QUALCOMM by 4.1% in the second quarter. Arizona State Retirement System now owns 318,718 shares of the wireless technology company’s stock valued at $37,940,000 after buying an additional 12,638 shares in the last quarter. Finally, Confluence Wealth Services Inc. raised its stake in shares of QUALCOMM by 903.6% during the 2nd quarter. Confluence Wealth Services Inc. now owns 52,560 shares of the wireless technology company’s stock worth $626,000 after buying an additional 47,323 shares during the period. Institutional investors and hedge funds own 71.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of QUALCOMM from $140.00 to $135.00 in a research note on Thursday, October 5th. Piper Sandler lifted their target price 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. KeyCorp restated an “overweight” rating and set a $145.00 price target on shares of QUALCOMM in a research report on Thursday, September 14th. Rosenblatt Securities reiterated a “buy” rating and issued a $145.00 price objective on shares of QUALCOMM in a report on Thursday, September 14th. Finally, JPMorgan Chase & Co. reduced their target price on QUALCOMM from $159.00 to $148.00 in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $142.61.
Read Our Latest Research Report on QCOM
Insiders Place Their Bets
In related news, insider Alexander H. Rogers sold 6,001 shares of the 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 completion of the transaction, the insider now owns 25,229 shares of the company’s stock, valued at approximately $2,785,281.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Alexander H. Rogers sold 6,001 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $110.40, for a total transaction of $662,510.40. Following the transaction, the insider now owns 25,229 shares of the company’s stock, valued at approximately $2,785,281.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO James H. Thompson sold 27,962 shares of QUALCOMM 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 completion of the transaction, the chief technology officer now directly owns 241,369 shares of the company’s stock, valued at $27,330,211.87. The disclosure for this sale can be found here. Insiders sold a total of 36,963 shares of company stock valued at $4,166,358 over the last 90 days. 0.07% of the stock is owned by company insiders.
QUALCOMM Trading Down 1.8 %
Shares of NASDAQ QCOM traded down $1.96 during midday trading on Friday, reaching $109.32. 1,539,328 shares of the stock were exchanged, compared to its average volume of 7,932,465. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $139.94. The stock has a market capitalization of $120.25 billion, a P/E ratio of 14.57, a PEG ratio of 0.97 and a beta of 1.23. The company has a 50 day simple moving average of $111.24 and a 200 day simple moving average of $115.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.42.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.51 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 6.42 earnings per share for the current year.
QUALCOMM Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.20 dividend on an annualized basis and a yield of 2.93%. QUALCOMM’s payout ratio is currently 41.88%.
QUALCOMM 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.
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