Sunflower Bank N.A. lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,113 shares of the wireless technology company’s stock after buying an additional 162 shares during the period. Sunflower Bank N.A.’s holdings in QUALCOMM were worth $337,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 93 shares during the period. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter valued at $27,000. Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.
QUALCOMM Stock Performance
Shares of QUALCOMM stock opened at $165.26 on Thursday. The firm has a market cap of $178.32 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21. The stock’s 50-day moving average is $156.67 and its 200-day moving average is $152.22. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.
QUALCOMM Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, September 4th. QUALCOMM’s payout ratio is 34.33%.
Insider Buying and Selling
In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $156.86, for a total value of $522,814.38. Following the completion of the sale, the chief financial officer directly owned 39,874 shares in the company, valued at approximately $6,254,635.64. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares of the company’s stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,899 shares of company stock valued at $1,992,121. 0.08% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on QCOM. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Arete Research set a $200.00 target price on QUALCOMM in a research report on Tuesday, August 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, July 31st. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Citigroup restated a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.82.
Read Our Latest Stock Report on QCOM
QUALCOMM Company Profile
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.
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