Westwood Wealth Management Trims Position in QUALCOMM Incorporated $QCOM

Westwood Wealth Management trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,886 shares of the wireless technology company’s stock after selling 350 shares during the period. Westwood Wealth Management’s holdings in QUALCOMM were worth $300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Atlantic Edge Private Wealth Management LLC grew its stake in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 93 shares during the period. Chung Wu Investment Group LLC acquired a new stake in shares of QUALCOMM during the second quarter worth $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of QUALCOMM during the second quarter worth $32,000. Finally, Atticus Wealth Management LLC raised its position in QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.1%

QCOM stock opened at $180.90 on Friday. The company has a market cap of $195.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.59 and a beta of 1.23. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $205.95. The company’s 50-day moving average price is $165.85 and its 200 day moving average price is $156.67. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the firm earned $2.33 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 34.33%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of analyst reports. Arete Research set a $200.00 price objective on shares of QUALCOMM in a research report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Piper Sandler lowered their price objective on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Citigroup lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell 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 $183.95.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Patricia Y. Grech sold 273 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $161.42, for a total value of $44,067.66. Following the sale, the chief accounting officer owned 404 shares of the company’s stock, valued at approximately $65,213.68. This represents a 40.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the completion of the sale, the chief executive officer owned 149,304 shares in the company, valued at $24,718,770.24. This represents a 50.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 166,502 shares of company stock valued at $27,472,615. Company insiders own 0.08% of the company’s stock.

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.