QUALCOMM Incorporated (NASDAQ:QCOM) Position Lowered by Penn Davis Mcfarland Inc.

Penn Davis Mcfarland Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 224,519 shares of the wireless technology company’s stock after selling 3,436 shares during the quarter. QUALCOMM comprises about 5.4% of Penn Davis Mcfarland Inc.’s holdings, making the stock its 6th biggest holding. Penn Davis Mcfarland Inc.’s holdings in QUALCOMM were worth $28,680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Hilltop Holdings Inc. grew its holdings in shares of QUALCOMM by 45.8% during the 4th quarter. Hilltop Holdings Inc. now owns 3,619 shares of the wireless technology company’s stock worth $662,000 after purchasing an additional 1,136 shares during the period. Clark Capital Management Group Inc. purchased a new position in QUALCOMM during the fourth quarter worth about $639,000. Mmbg Investment Advisors CO. acquired a new stake in shares of QUALCOMM during the fourth quarter valued at about $790,000. Nuveen Asset Management LLC raised its stake in shares of QUALCOMM by 37.2% in the 4th quarter. Nuveen Asset Management LLC now owns 8,468,283 shares of the wireless technology company’s stock valued at $1,548,596,000 after acquiring an additional 2,294,400 shares during the period. Finally, ETF Managers Group LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $1,668,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, insider James J. Cathey sold 2,084 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $126.51, for a total transaction of $263,646.84. Following the completion of the sale, 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 is accessible through the SEC website. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on QCOM shares. JPMorgan Chase & Co. cut their target price on QUALCOMM from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. KeyCorp increased their target price on QUALCOMM from $200.00 to $220.00 in a research note on Monday, June 13th. DZ Bank downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 target price for the company. in a research report on Friday, July 29th. Piper Sandler lowered their price objective 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. Finally, Edward Jones raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.04.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $2.30 on Friday, hitting $121.38. 617,807 shares of the stock traded hands, compared to its average volume of 6,950,391. The company has a market capitalization of $136.31 billion, a PE ratio of 10.71, a PEG ratio of 0.72 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $118.22 and a 1-year high of $193.58. The company’s fifty day moving average is $140.48 and its 200 day moving average is $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 posted its earnings results on Wednesday, July 27th. The wireless technology company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.08. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The firm had revenue of $10.93 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same period in the previous year, the business posted $1.66 EPS. QUALCOMM’s revenue was up 36.7% on a year-over-year basis. On average, equities research analysts predict that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were issued a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.47%. QUALCOMM’s dividend payout ratio is currently 26.57%.


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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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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