Westside Investment Management Inc. Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Financial News Live · Sep 25, 2022 00:11

Westside Investment Management Inc. boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 10.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,244 shares of the wireless technology company's stock after acquiring an additional 2,350 shares during the period. QUALCOMM accounts for 1.7% of Westside Investment Management Inc.'s investment portfolio, making the stock its 7th largest holding. Westside Investment Management Inc.'s holdings in QUALCOMM were worth $735,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in QCOM. Rehmann Capital Advisory Group increased its holdings in QUALCOMM by 0.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 9,132 shares of the wireless technology company's stock valued at $1,670,000 after buying an additional 66 shares in the last quarter. Wilson & Boucher Capital Management LLC increased its holdings in QUALCOMM by 2.3% in the first quarter. Wilson & Boucher Capital Management LLC now owns 3,370 shares of the wireless technology company's stock valued at $515,000 after buying an additional 75 shares in the last quarter. Concord Wealth Partners increased its holdings in QUALCOMM by 4.0% in the first quarter. Concord Wealth Partners now owns 1,945 shares of the wireless technology company's stock valued at $297,000 after buying an additional 75 shares in the last quarter. Ritholtz Wealth Management increased its holdings in QUALCOMM by 0.5% in the first quarter. Ritholtz Wealth Management now owns 15,747 shares of the wireless technology company's stock valued at $2,406,000 after buying an additional 76 shares in the last quarter. Finally, Manchester Financial Inc. increased its holdings in QUALCOMM by 0.8% in the first quarter. Manchester Financial Inc. now owns 10,092 shares of the wireless technology company's stock valued at $1,542,000 after buying an additional 78 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

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Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 2,084 shares of QUALCOMM stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $126.51, for a total transaction of $263,646.84. Following the transaction, the insider now owns 917 shares in the company, valued at approximately $116,009.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QCOM shares. DZ Bank cut shares of QUALCOMM from a "buy" rating to a "hold" rating and set a $150.00 target price for the company. in a report on Friday, July 29th. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $205.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, July 14th. Wells Fargo & Company dropped their price objective on shares of QUALCOMM from $150.00 to $135.00 and set an "equal weight" rating for the company in a research note on Monday, July 11th. 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. Finally, Mizuho raised their price objective on shares of QUALCOMM from $168.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $191.04.

QUALCOMM Trading Down 2.0 %

Shares of QCOM traded down $2.49 during mid-day trading on Friday, reaching $121.19. The company had a trading volume of 10,681,286 shares, compared to its average volume of 7,107,096. The stock has a market cap of $136.10 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.71 and a beta of 1.23. The firm has a fifty day simple moving average of $140.02 and a 200-day simple moving average of $139.19. QUALCOMM Incorporated has a fifty-two week low of $118.22 and a fifty-two week 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.

QUALCOMM (NASDAQ:QCOM – Get Rating) last posted its earnings results on Wednesday, July 27th. The wireless technology company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.08. The business had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The business's quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 EPS. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 10.95 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, August 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.48%. QUALCOMM's payout ratio is 26.57%.

QUALCOMM Company Profile

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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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