Strs Ohio Trims Holdings in QUALCOMM Incorporated $QCOM

Strs Ohio lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 27.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 268,276 shares of the wireless technology company’s stock after selling 99,191 shares during the period. Strs Ohio’s holdings in QUALCOMM were worth $42,726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC acquired a new position in QUALCOMM during the 2nd quarter worth about $1,005,000. Carret Asset Management LLC raised its stake in QUALCOMM by 3.3% in the second quarter. Carret Asset Management LLC now owns 8,840 shares of the wireless technology company’s stock valued at $1,408,000 after buying an additional 284 shares in the last quarter. Spinnaker Trust raised its position in shares of QUALCOMM by 3.3% during the 2nd quarter. Spinnaker Trust now owns 3,895 shares of the wireless technology company’s stock worth $620,000 after acquiring an additional 125 shares in the last quarter. Savvy Advisors Inc. raised its holdings in QUALCOMM by 35.4% during the second quarter. Savvy Advisors Inc. now owns 9,294 shares of the wireless technology company’s stock worth $1,480,000 after purchasing an additional 2,432 shares in the last quarter. Finally, Live Oak Private Wealth LLC increased its position in shares of QUALCOMM by 0.9% during the second quarter. Live Oak Private Wealth LLC now owns 50,721 shares of the wireless technology company’s stock worth $8,078,000 after purchasing an additional 463 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total value of $24,834,000.00. Following the completion of the sale, the chief executive officer directly owned 149,304 shares in the company, valued at approximately $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Patricia Y. Grech sold 201 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $170.00, for a total transaction of $34,170.00. Following the completion of the sale, the chief accounting officer owned 203 shares of the company’s stock, valued at approximately $34,510. The trade was a 49.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 166,502 shares of company stock worth $27,472,615 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.8%

QCOM stock opened at $177.26 on Friday. The stock has a market capitalization of $191.26 billion, a P/E ratio of 17.09, a PEG ratio of 2.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $205.95. The company has a 50 day moving average price of $165.40 and a two-hundred day moving average price of $156.26.

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

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a yield of 2.0%. QUALCOMM’s payout ratio is 34.33%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Mizuho lowered their target price on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Arete raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research note on Tuesday, August 26th. Piper Sandler lowered their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, Arete Research set a $200.00 price objective on shares of QUALCOMM in a research note on Tuesday, August 26th. One equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $183.95.

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.