Motco Sells 572 Shares of QUALCOMM Incorporated $QCOM

Motco lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,535 shares of the wireless technology company’s stock after selling 572 shares during the quarter. Motco’s holdings in QUALCOMM were worth $5,215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in QUALCOMM by 0.6% during the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock worth $17,568,141,000 after purchasing an additional 638,284 shares during the period. Kingstone Capital Partners Texas LLC boosted its position in shares of QUALCOMM by 656,661.0% in the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock valued at $9,360,274,000 after acquiring an additional 58,764,593 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of QUALCOMM by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,422,341 shares of the wireless technology company’s stock valued at $1,600,976,000 after acquiring an additional 641,654 shares during the period. Invesco Ltd. boosted its position in shares of QUALCOMM by 2.2% in the first quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company’s stock valued at $1,512,458,000 after acquiring an additional 215,900 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of QUALCOMM by 5.3% in the first quarter. Ameriprise Financial Inc. now owns 9,389,620 shares of the wireless technology company’s stock valued at $1,441,847,000 after acquiring an additional 471,648 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on QCOM. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Piper Sandler cut their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Susquehanna raised their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Tuesday. Finally, Arete Research set a $200.00 price objective on shares of QUALCOMM in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.95.

QUALCOMM Trading Down 3.5%

Shares of QUALCOMM stock opened at $181.03 on Wednesday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95. The firm has a market cap of $195.33 billion, a PE ratio of 17.46, a PEG ratio of 2.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company has a 50 day simple moving average of $164.47 and a two-hundred day simple moving average of $155.83.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business posted $2.33 earnings per share. QUALCOMM’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a yield of 2.0%. QUALCOMM’s payout ratio is presently 34.33%.

Insider Transactions at QUALCOMM

In other news, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total value of $24,834,000.00. Following the completion of the sale, the chief executive officer directly owned 149,304 shares in the company, valued at approximately $24,718,770.24. The trade was a 50.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 791 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the completion of the sale, the chief accounting officer owned 1,106 shares of the company’s stock, valued at approximately $171,230.92. The trade was a 41.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 168,102 shares of company stock worth $27,706,855. Corporate insiders own 0.08% of the company’s stock.

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.