Orin Green Financial LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,782 shares of the wireless technology company's stock after selling 5,090 shares during the period. QUALCOMM makes up about 6.7% of Orin Green Financial LLC's investment portfolio, making the stock its 5th biggest holding. Orin Green Financial LLC's holdings in QUALCOMM were worth $15,438,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in QCOM. Wedge Capital Management L L P NC boosted its position in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock valued at $60,264,000 after buying an additional 51,879 shares during the last quarter. Czech National Bank boosted its position in QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock valued at $38,590,000 after buying an additional 13,888 shares during the last quarter. Legal & General Group Plc boosted its position in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock valued at $1,999,114,000 after buying an additional 86,195 shares during the last quarter. City Holding Co. boosted its position in QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company's stock valued at $996,000 after buying an additional 199 shares during the last quarter. Finally, Heritage Wealth Management Inc. purchased a new position in QUALCOMM in the 2nd quarter valued at about $1,539,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, September 17th. Rosenblatt Securities upped their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed an "overweight" rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Cantor Fitzgerald reduced their price target on shares of QUALCOMM from $215.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 8th. Finally, Hsbc Global Res cut shares of QUALCOMM from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and an average price target of $208.75.
View Our Latest Analysis on QCOM
Insider Activity at QUALCOMM
In related news, insider Alexander H. Rogers sold 3,245 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company's stock, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 over the last quarter. 0.08% of the stock is currently owned by company insiders.
QUALCOMM Stock Performance
Shares of NASDAQ:QCOM traded down $0.38 during trading hours on Thursday, hitting $171.10. The stock had a trading volume of 6,089,640 shares, compared to its average volume of 9,060,207. The stock's fifty day simple moving average is $168.98 and its 200 day simple moving average is $182.12. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm has a market capitalization of $190.95 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. QUALCOMM's dividend payout ratio is presently 45.70%.
QUALCOMM Company Profile
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Free Report)
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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