QUALCOMM Incorporated (NASDAQ:QCOM) Stake Reduced by SouthState Corp

SouthState Corp lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,568 shares of the wireless technology company’s stock after selling 101 shares during the quarter. SouthState Corp’s holdings in QUALCOMM were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. Peoples Bank OH acquired a new position in QUALCOMM in the 4th quarter worth approximately $219,000. HF Advisory Group LLC acquired a new stake in shares of QUALCOMM in the third quarter worth $629,000. Bank Hapoalim BM grew its holdings in shares of QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares in the last quarter. NewEdge Wealth LLC raised its position in QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares during the period. Finally, 1834 Investment Advisors Co. lifted its stake in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after acquiring an additional 2,818 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock worth $7,429,728 over the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

QCOM traded down $0.46 during trading on Friday, hitting $179.64. The stock had a trading volume of 10,041,403 shares, compared to its average volume of 8,755,839. The firm has a market cap of $200.48 billion, a PE ratio of 26.03, a P/E/G ratio of 2.25 and a beta of 1.33. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $183.19. The company has a 50 day simple moving average of $167.20 and a 200-day simple moving average of $146.11.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.24% and a net margin of 23.03%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is currently 49.28%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research note on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a research report on Thursday. JPMorgan Chase & Co. increased their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler boosted their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Susquehanna upped their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.36.

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, computing, multimedia, and position location products.