QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Barton Investment Management

Barton Investment Management lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 1.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,938 shares of the wireless technology company’s stock after selling 970 shares during the period. QUALCOMM comprises 1.4% of Barton Investment Management’s portfolio, making the stock its 14th largest position. Barton Investment Management’s holdings in QUALCOMM were worth $7,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of QUALCOMM by 1.5% in the first quarter. Vanguard Group Inc. now owns 105,592,786 shares of the wireless technology company’s stock worth $16,136,689,000 after buying an additional 1,570,961 shares during the period. BlackRock Inc. grew its position in QUALCOMM by 0.8% during the first quarter. BlackRock Inc. now owns 82,022,847 shares of the wireless technology company’s stock worth $12,534,730,000 after buying an additional 643,310 shares in the last quarter. State Street Corp grew its position in QUALCOMM by 3.3% during the fourth quarter. State Street Corp now owns 49,174,315 shares of the wireless technology company’s stock worth $8,992,507,000 after buying an additional 1,553,359 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in QUALCOMM by 10.6% during the fourth quarter. Alliancebernstein L.P. now owns 20,174,284 shares of the wireless technology company’s stock valued at $3,689,271,000 after purchasing an additional 1,934,339 shares in the last quarter. Finally, Norges Bank bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $2,266,923,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Edward Jones upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Piper Sandler dropped their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. KeyCorp boosted their price objective on shares of QUALCOMM from $200.00 to $220.00 in a research report on Monday, June 13th. Wells Fargo & Company dropped their target price on shares of QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Finally, Cowen set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, July 19th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.04.

Insiders Place Their Bets

In other QUALCOMM news, insider James J. Cathey sold 2,084 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $126.51, for a total value of $263,646.84. Following the completion of the transaction, the insider now directly owns 917 shares in the company, valued at approximately $116,009.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $3.81 on Friday, hitting $119.87. 456,668 shares of the company traded hands, compared to its average volume of 6,950,391. The company has a market capitalization of $134.61 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 0.72 and a beta of 1.23. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average price is $140.48 and its 200-day moving average price is $139.40. QUALCOMM Incorporated has a 52-week low of $118.22 and a 52-week high of $193.58.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its earnings results on Wednesday, July 27th. The wireless technology company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.08. The company had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $10.85 billion. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. QUALCOMM’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 earnings per share. Equities analysts expect that QUALCOMM Incorporated will post 10.95 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $3.00 annualized dividend and a yield of 2.50%. QUALCOMM’s payout ratio is 26.57%.

QUALCOMM Profile

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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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