QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Thompson Investment Management Inc.

Thompson Investment Management Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,163 shares of the wireless technology company’s stock after selling 1,575 shares during the period. QUALCOMM accounts for 2.5% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Thompson Investment Management Inc.’s holdings in QUALCOMM were worth $16,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. Financial Gravity Asset Management Inc. boosted its holdings in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the 4th quarter worth $32,000. Cherry Tree Wealth Management LLC lifted its position in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in QUALCOMM during the 4th quarter worth $35,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,206,875 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research report on Friday, May 3rd. Barclays upped their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Piper Sandler upped their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, HSBC upped their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Trading Down 2.8 %

QCOM stock traded down $5.58 during midday trading on Wednesday, reaching $196.59. The company’s stock had a trading volume of 5,090,175 shares, compared to its average volume of 9,258,960. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The stock has a market cap of $219.39 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The business’s 50-day simple moving average is $193.66 and its 200-day simple moving average is $168.40.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.73%. QUALCOMM’s payout ratio is 45.70%.

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.