Catalyst Capital Advisors LLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 73.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 641 shares of the wireless technology company’s stock after selling 1,734 shares during the period. Catalyst Capital Advisors LLC’s holdings in QUALCOMM were worth $82,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Corrado Advisors LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $27,000. Ruedi Wealth Management Inc. acquired a new position in QUALCOMM during the fourth quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group grew its holdings in QUALCOMM by 53.9% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock valued at $28,000 after purchasing an additional 90 shares during the last quarter. TD Capital Management LLC grew its holdings in QUALCOMM by 118.8% during the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after purchasing an additional 120 shares during the last quarter. Finally, Tanglewood Legacy Advisors LLC acquired a new stake in shares of QUALCOMM in the fourth quarter worth $32,000. Institutional investors and hedge funds own 71.10% of the company’s stock.
QUALCOMM Stock Down 0.2 %
Shares of NASDAQ QCOM opened at $106.14 on Monday. The stock has a market cap of $118.45 billion, a PE ratio of 13.89, a PEG ratio of 1.04 and a beta of 1.23. The business has a fifty day moving average of $117.66 and a two-hundred day moving average of $117.32. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $139.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.42.
QUALCOMM Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 31st will be issued a $0.80 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.01%. QUALCOMM’s dividend payout ratio is 41.88%.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on QCOM shares. Bank of America raised their price objective on shares of QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. Piper Sandler raised their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Mizuho restated a “buy” rating and issued a $140.00 price objective on shares of QUALCOMM in a research note on Wednesday, August 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $130.00 to $121.00 in a research note on Thursday, August 3rd. Finally, StockNews.com started coverage on shares of QUALCOMM in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.26.
Insider Activity at QUALCOMM
In related news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $114.16, for a total value of $114,160.00. Following the completion of the transaction, the insider now directly owns 6,745 shares of the company’s stock, valued at $770,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.
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, application processing, multimedia, and global positioning system products.
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