PFG Advisors Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

PFG Advisors cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 22.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,843 shares of the wireless technology company’s stock after selling 1,115 shares during the period. PFG Advisors’ holdings in QUALCOMM were worth $491,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Joseph P. Lucia & Associates LLC bought a new position in QUALCOMM in the first quarter valued at about $28,000. Rise Advisors LLC bought a new position in QUALCOMM in the fourth quarter valued at about $34,000. Crewe Advisors LLC lifted its holdings in QUALCOMM by 444.4% in the first quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock valued at $37,000 after acquiring an additional 200 shares during the period. HWG Holdings LP bought a new position in QUALCOMM in the fourth quarter valued at about $47,000. Finally, Delos Wealth Advisors LLC lifted its holdings in QUALCOMM by 987.5% in the fourth quarter. Delos Wealth Advisors LLC now owns 261 shares of the wireless technology company’s stock valued at $48,000 after acquiring an additional 237 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, insider James J. Cathey sold 2,084 shares of QUALCOMM 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 owns 917 shares in the company, valued at approximately $116,009.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.05% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $123.68 on Friday. The stock has a market capitalization of $138.89 billion, a PE ratio of 10.95, a P/E/G ratio of 0.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.61 and a quick ratio of 1.15. The business has a 50 day simple moving average of $140.48 and a two-hundred day simple moving average of $139.40. QUALCOMM Incorporated has a 1-year low of $118.22 and a 1-year high of $193.58.

QUALCOMM (NASDAQ:QCOMGet Rating) last announced its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.44. The firm had revenue of $10.93 billion during the quarter, compared to analysts’ expectations of $10.85 billion. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. The company’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 EPS. On average, research analysts predict that QUALCOMM Incorporated will post 10.95 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Wednesday, August 31st. QUALCOMM’s dividend payout ratio (DPR) is 26.57%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on QCOM shares. Piper Sandler lowered their target price on QUALCOMM from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on QUALCOMM from $190.00 to $170.00 in a research note on Wednesday, July 20th. DZ Bank downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 price objective on the stock. in a research note on Friday, July 29th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 28th. Finally, Canaccord Genuity Group decreased their price objective on QUALCOMM from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.04.

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.

See Also

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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