Great Lakes Retirement Inc. Buys 1,610 Shares of QUALCOMM Incorporated $QCOM

Great Lakes Retirement Inc. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,687 shares of the wireless technology company’s stock after acquiring an additional 1,610 shares during the quarter. Great Lakes Retirement Inc.’s holdings in QUALCOMM were worth $3,454,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Guinness Asset Management LTD raised its holdings in shares of QUALCOMM by 11.6% in the second quarter. Guinness Asset Management LTD now owns 55,410 shares of the wireless technology company’s stock valued at $8,824,000 after buying an additional 5,779 shares during the last quarter. CORDA Investment Management LLC. raised its holdings in shares of QUALCOMM by 18.6% in the second quarter. CORDA Investment Management LLC. now owns 22,474 shares of the wireless technology company’s stock valued at $3,579,000 after buying an additional 3,524 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of QUALCOMM by 565.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company’s stock valued at $19,098,000 after buying an additional 105,631 shares during the last quarter. PFG Advisors raised its holdings in shares of QUALCOMM by 8.0% in the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company’s stock valued at $663,000 after buying an additional 321 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of QUALCOMM by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company’s stock valued at $203,904,000 after buying an additional 145,509 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler cut their price target on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a report on Tuesday. Citigroup lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, UBS Group set a $165.00 price objective on QUALCOMM in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $183.95.

Insider Buying and Selling

In other news, CAO Patricia Y. Grech sold 273 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $161.42, for a total transaction of $44,067.66. Following the completion of the transaction, the chief accounting officer directly owned 404 shares in the company, valued at approximately $65,213.68. The trade was a 40.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total value of $24,834,000.00. Following the transaction, the chief executive officer owned 149,304 shares of the company’s stock, valued at $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 166,502 shares of company stock valued at $27,472,615 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM stock opened at $180.90 on Friday. The stock has a 50-day moving average price of $165.85 and a 200 day moving average price of $156.54. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The firm has a market cap of $195.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.59 and a beta of 1.23. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $205.95.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 EPS. Research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s payout ratio is presently 34.33%.

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.