QUALCOMM Incorporated $QCOM Position Cut by Tredje AP fonden

Tredje AP fonden trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,720 shares of the wireless technology company’s stock after selling 95,972 shares during the quarter. Tredje AP fonden’s holdings in QUALCOMM were worth $66,685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Avion Wealth grew its stake in shares of QUALCOMM by 16.7% in the second quarter. Avion Wealth now owns 441 shares of the wireless technology company’s stock worth $70,000 after purchasing an additional 63 shares in the last quarter. Insight Advisors LLC PA grew its position in QUALCOMM by 1.8% in the 2nd quarter. Insight Advisors LLC PA now owns 3,488 shares of the wireless technology company’s stock valued at $556,000 after buying an additional 63 shares in the last quarter. Capital Advantage Inc. grew its position in QUALCOMM by 2.8% in the 2nd quarter. Capital Advantage Inc. now owns 2,353 shares of the wireless technology company’s stock valued at $375,000 after buying an additional 64 shares in the last quarter. Rise Advisors LLC grew its position in QUALCOMM by 6.7% in the 1st quarter. Rise Advisors LLC now owns 1,048 shares of the wireless technology company’s stock valued at $161,000 after buying an additional 66 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its position in QUALCOMM by 4.6% in the 1st quarter. Bell Investment Advisors Inc now owns 1,504 shares of the wireless technology company’s stock valued at $231,000 after buying an additional 66 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 8,335 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $166.06, for a total value of $1,384,110.10. Following the completion of the transaction, the chief financial officer directly owned 36,541 shares in the company, valued at $6,067,998.46. This trade represents a 18.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Patricia Y. Grech sold 273 shares of the firm’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 owned 404 shares of the company’s stock, valued at approximately $65,213.68. The trade was a 40.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 166,502 shares of company stock worth $27,472,615. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on QCOM shares. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Tuesday, October 28th. Citigroup increased their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group set a $165.00 price target on QUALCOMM in a research note on Monday, October 27th. Weiss Ratings raised QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Finally, Piper Sandler cut their price objective on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.95.

QUALCOMM Trading Up 2.1%

Shares of NASDAQ:QCOM opened at $180.90 on Friday. The stock has a market capitalization 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 1-year low of $120.80 and a 1-year high of $205.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The company has a 50 day moving average price of $165.85 and a 200 day moving average price of $156.67.

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

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $0.89 dividend. The ex-dividend date is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. QUALCOMM’s dividend payout ratio (DPR) is 34.33%.

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, computing, multimedia, and position location products.