QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Asset Dedication LLC

Asset Dedication LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,641 shares of the wireless technology company’s stock after acquiring an additional 125 shares during the period. Asset Dedication LLC’s holdings in QUALCOMM were worth $1,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new stake in QUALCOMM in the first quarter valued at approximately $28,000. Rise Advisors LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth $34,000. Old North State Trust LLC raised its holdings in shares of QUALCOMM by 58.9% in the fourth quarter. Old North State Trust LLC now owns 205 shares of the wireless technology company’s stock worth $37,000 after buying an additional 76 shares during the last quarter. Stuart Chaussee & Associates Inc. raised its holdings in shares of QUALCOMM by 49.6% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock worth $37,000 after buying an additional 67 shares during the last quarter. Finally, Maryland Capital Advisors Inc. purchased a new position in shares of QUALCOMM in the fourth quarter worth $38,000. Institutional investors own 73.61% of the company’s stock.

QCOM has been the subject of a number of research analyst reports. Sumitomo Mitsui Financial Group cut shares of QUALCOMM from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $215.00 to $155.00 in a report on Monday, April 18th. Susquehanna decreased their price target on shares of QUALCOMM from $190.00 to $165.00 in a report on Thursday, April 28th. Mizuho reduced their target price on shares of QUALCOMM from $185.00 to $168.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $240.00 to $205.00 in a report on Tuesday, April 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $196.48.

In other QUALCOMM news, CAO Erin L. Polek sold 1,521 shares of QUALCOMM stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by insiders.

QCOM opened at $123.53 on Friday. The firm has a market capitalization of $138.35 billion, a PE ratio of 12.64, a PEG ratio of 0.69 and a beta of 1.20. QUALCOMM Incorporated has a twelve month low of $118.22 and a twelve month high of $193.58. The firm’s 50-day moving average price is $134.07 and its 200 day moving average price is $154.31. The company has a current ratio of 1.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.91.

QUALCOMM (NASDAQ:QCOMGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.19. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. The firm had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the business posted $1.59 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 11.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Shareholders of record on Thursday, June 2nd were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, June 1st. This is an increase from QUALCOMM’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 2.43%. QUALCOMM’s payout ratio is 30.71%.

QUALCOMM Company Profile (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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