Ignite Planners LLC Sells 731 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ignite Planners LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOMGet 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 %

Shares of NASDAQ:QCOM traded down $2.82 during midday trading on Friday, hitting $120.86. 354,660 shares of the company’s stock were exchanged, compared to its average volume of 6,950,391. QUALCOMM Incorporated has a 12 month low of $118.22 and a 12 month high of $193.58. The company has a market cap of $135.73 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.72 and a beta of 1.23. The stock has a 50 day moving average price of $140.48 and a 200-day moving average price of $139.40. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.61 and a quick ratio of 1.15.

QUALCOMM (NASDAQ:QCOMGet 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 Profile

(Get Rating)

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.

Featured Articles

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.