Ignite Planners LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,892 shares of the wireless technology company’s stock after selling 731 shares during the period. Ignite Planners LLC’s holdings in QUALCOMM were worth $927,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth about $28,000. Rise Advisors LLC bought a new position in shares of QUALCOMM during the fourth quarter worth approximately $34,000. Crewe Advisors LLC increased its holdings in shares of QUALCOMM by 444.4% during the first quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 200 shares during the period. Activest Wealth Management increased its stake in QUALCOMM by 117.1% in the first quarter. Activest Wealth Management now owns 267 shares of the wireless technology company’s stock valued at $41,000 after acquiring an additional 144 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its stake in QUALCOMM by 58.8% in the first quarter. Tortoise Investment Management LLC now owns 270 shares of the wireless technology company’s stock valued at $41,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on QCOM shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of QUALCOMM from $190.00 to $170.00 in a research report on Wednesday, July 20th. Cowen set a $185.00 price target on shares of QUALCOMM in a report on Tuesday, July 19th. Canaccord Genuity Group cut their price target on shares of QUALCOMM from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. DZ Bank lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 price target on the stock. in a report on Friday, July 29th. Finally, Piper Sandler lowered their target price on shares of QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.04.
QUALCOMM Stock Down 2.3 %
QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.44. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The business had revenue of $10.93 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same period in the previous year, the company earned $1.66 earnings per share. The firm’s revenue for the quarter was up 36.7% compared to the same quarter last year. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 10.95 EPS for the current fiscal year.
QUALCOMM Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Wednesday, August 31st. QUALCOMM’s dividend payout ratio (DPR) is presently 26.57%.
Insider Buying and Selling
In other QUALCOMM news, insider James J. Cathey sold 2,084 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $126.51, for a total value of $263,646.84. Following the transaction, the insider now directly owns 917 shares in the company, valued at $116,009.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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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