SignalPoint Asset Management LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 2.0% in the second quarter, Holdings Channel.com reports. The firm owned 15,156 shares of the wireless technology company’s stock after selling 307 shares during the quarter. SignalPoint Asset Management LLC’s holdings in QUALCOMM were worth $1,804,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Milestone Investment Advisors LLC purchased a new position in shares of QUALCOMM in the 1st quarter worth about $26,000. Ruedi Wealth Management Inc. purchased a new position in shares of QUALCOMM in the 4th quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of QUALCOMM by 53.9% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock worth $28,000 after purchasing an additional 90 shares in the last quarter. TD Capital Management LLC boosted its holdings in shares of QUALCOMM by 118.8% in the 1st quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock worth $28,000 after purchasing an additional 120 shares in the last quarter. Finally, Pacific Center for Financial Services purchased a new position in shares of QUALCOMM in the 1st quarter worth about $31,000. 71.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Piper Sandler upped their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Bank of America increased their target price on QUALCOMM from $130.00 to $145.00 in a report on Friday, June 16th. Wolfe Research started coverage on QUALCOMM in a report on Wednesday, July 19th. They set an “outperform” rating and a $145.00 target price for the company. Wells Fargo & Company increased their target price on QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, September 12th. Finally, Susquehanna dropped their target price on QUALCOMM from $145.00 to $140.00 and set a “positive” rating for the company in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $141.96.
QUALCOMM Stock Down 1.8 %
QCOM stock traded down $2.08 on Tuesday, reaching $110.67. 1,337,346 shares of the company traded hands, compared to its average volume of 8,108,800. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $139.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.42 and a quick ratio of 1.64. The company has a market cap of $121.74 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. The firm has a fifty day simple moving average of $117.12 and a 200-day simple moving average of $116.90.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share 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 during the quarter, compared to analyst estimates of $8.51 billion. Research analysts anticipate that QUALCOMM Incorporated will post 6.41 earnings per share for the current year.
QUALCOMM Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a yield of 2.89%. QUALCOMM’s dividend payout ratio is 41.88%.
Insider Buying and Selling at QUALCOMM
In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.16, for a total transaction of $114,160.00. Following the sale, the insider now directly owns 6,745 shares in the company, valued at approximately $770,009.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.16, for a total value of $114,160.00. Following the transaction, the insider now directly owns 6,745 shares in the company, valued at approximately $770,009.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 27,962 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was 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 owns 241,369 shares in the company, valued at $27,330,211.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,962 shares of company stock worth $3,391,567. 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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