Gofen & Glossberg LLC IL Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Gofen & Glossberg LLC IL lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,204 shares of the wireless technology company’s stock after selling 284 shares during the period. Gofen & Glossberg LLC IL’s holdings in QUALCOMM were worth $19,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC acquired a new position in QUALCOMM during the 1st quarter worth approximately $28,000. Rise Advisors LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $34,000. Crewe Advisors LLC boosted its stake in QUALCOMM by 444.4% during the 1st quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 200 shares during the period. HWG Holdings LP acquired a new stake in QUALCOMM during the 4th quarter worth $47,000. Finally, Delos Wealth Advisors LLC boosted its stake in QUALCOMM by 987.5% during the 4th quarter. Delos Wealth Advisors LLC now owns 261 shares of the wireless technology company’s stock worth $48,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

QUALCOMM Stock Down 0.5 %

Shares of NASDAQ QCOM traded down $0.68 during trading hours on Thursday, hitting $123.94. The stock had a trading volume of 407,583 shares, compared to its average volume of 6,799,863. The company has a market capitalization of $139.18 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.72 and a beta of 1.23. The firm’s 50-day moving average price is $140.84 and its two-hundred day moving average price is $139.58. 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 quick ratio of 1.15 and a current ratio of 1.61.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.44. The business had revenue of $10.93 billion during 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%. QUALCOMM’s revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. Analysts anticipate 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 will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.42%. The ex-dividend date is Wednesday, August 31st. QUALCOMM’s payout ratio is 26.57%.

Insider Buying and Selling at QUALCOMM

In related 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 sale, the insider now owns 917 shares of the company’s stock, valued at approximately $116,009.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on QCOM shares. Edward Jones upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of QUALCOMM from $190.00 to $170.00 in a research note on Wednesday, July 20th. Canaccord Genuity Group reduced their price target on shares of QUALCOMM from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, July 28th. KeyCorp boosted their price target on shares of QUALCOMM from $200.00 to $220.00 in a research report on Monday, June 13th. Finally, Piper Sandler lowered their price target on QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Ten research 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 stock has an average rating of “Moderate Buy” and an average target price of $191.04.

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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