Valley National Advisers Inc. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Valley National Advisers Inc. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,336 shares of the wireless technology company’s stock after buying an additional 188 shares during the period. Valley National Advisers Inc.’s holdings in QUALCOMM were worth $986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group lifted its position in shares of QUALCOMM by 0.7% during the 4th quarter. Rehmann Capital Advisory Group now owns 9,132 shares of the wireless technology company’s stock worth $1,670,000 after purchasing an additional 66 shares during the last quarter. Wilson & Boucher Capital Management LLC lifted its position in shares of QUALCOMM by 2.3% during the 1st quarter. Wilson & Boucher Capital Management LLC now owns 3,370 shares of the wireless technology company’s stock worth $515,000 after purchasing an additional 75 shares during the last quarter. Concord Wealth Partners lifted its position in shares of QUALCOMM by 4.0% during the 1st quarter. Concord Wealth Partners now owns 1,945 shares of the wireless technology company’s stock worth $297,000 after purchasing an additional 75 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of QUALCOMM by 0.5% during the 1st quarter. Ritholtz Wealth Management now owns 15,747 shares of the wireless technology company’s stock worth $2,406,000 after purchasing an additional 76 shares during the last quarter. Finally, Manchester Financial Inc. lifted its position in shares of QUALCOMM by 0.8% during the 1st quarter. Manchester Financial Inc. now owns 10,092 shares of the wireless technology company’s stock worth $1,542,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, insider James J. Cathey sold 2,084 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $126.51, for a total transaction of $263,646.84. Following the sale, the insider now owns 917 shares of the company’s stock, valued at $116,009.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 28th. DZ Bank cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 price objective for the company. in a research report on Friday, July 29th. Piper Sandler reduced their price target on shares of QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a research 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, Wells Fargo & Company reduced their price target on shares of QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $191.04.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $2.79 on Friday, reaching $120.89. 522,464 shares of the stock were exchanged, compared to its average volume of 6,950,391. QUALCOMM Incorporated has a 1-year low of $118.22 and a 1-year high of $193.58. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average price of $140.48 and a two-hundred day moving average price of $139.40. The firm has a market capitalization of $135.76 billion, a PE ratio of 10.71, a PEG ratio of 0.72 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.08. The firm had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $10.85 billion. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The firm’s revenue was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. As a group, research analysts anticipate that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed 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 yield of 2.48%. The ex-dividend date of this dividend was Wednesday, August 31st. QUALCOMM’s dividend payout ratio is currently 26.57%.

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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