Orion Portfolio Solutions LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Orion Portfolio Solutions LLC reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,772 shares of the wireless technology company’s stock after selling 744 shares during the period. Orion Portfolio Solutions LLC’s holdings in QUALCOMM were worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in QUALCOMM during the fourth quarter worth about $2,266,923,000. Cowa LLC purchased a new position in QUALCOMM in the first quarter worth approximately $94,000. BlackRock Inc. increased its position in shares of QUALCOMM by 4.3% in the 4th quarter. BlackRock Inc. now owns 81,379,537 shares of the wireless technology company’s stock valued at $14,881,876,000 after purchasing an additional 3,319,939 shares during the last quarter. Capital International Investors lifted its stake in QUALCOMM by 63.2% during the fourth quarter. Capital International Investors now owns 6,843,216 shares of the wireless technology company’s stock worth $1,251,413,000 after purchasing an additional 2,648,829 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in QUALCOMM by 37.2% in the fourth 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 last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 0.8 %

Shares of QUALCOMM stock opened at $123.68 on Friday. The firm has a market cap of $138.89 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.72 and a beta of 1.23. The stock has a 50-day simple moving average of $140.48 and a 200-day simple moving average of $139.40. QUALCOMM Incorporated has a 52-week low of $118.22 and a 52-week high of $193.58. 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 released its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.44. The company had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. The company’s revenue was up 36.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. On average, equities research analysts expect that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were issued a dividend of $0.75 per share. 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 payout ratio is presently 26.57%.

Analyst Ratings Changes

A number of brokerages recently weighed in on QCOM. Canaccord Genuity Group dropped their price objective on QUALCOMM from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Piper Sandler decreased their price objective on QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their target price on QUALCOMM from $190.00 to $170.00 in a research report on Wednesday, July 20th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 28th. Finally, KeyCorp boosted their price objective on QUALCOMM from $200.00 to $220.00 in a report on Monday, June 13th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.04.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 2,084 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by corporate insiders.

About QUALCOMM

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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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