QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Taylor Frigon Capital Management LLC

Financial News Live · Mar 21, 2023 02:56

Taylor Frigon Capital Management LLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,996 shares of the wireless technology company's stock after selling 91 shares during the quarter. Taylor Frigon Capital Management LLC's holdings in QUALCOMM were worth $1,319,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fairfield Bush & CO. increased its holdings in QUALCOMM by 1.3% in the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company's stock valued at $4,712,000 after purchasing an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in QUALCOMM by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company's stock worth $338,027,000 after purchasing an additional 245,335 shares in the last quarter. Merit Financial Group LLC grew its stake in QUALCOMM by 25.2% in the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company's stock worth $422,000 after purchasing an additional 555 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of QUALCOMM by 23.8% during the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company's stock worth $6,745,000 after purchasing an additional 8,472 shares during the period. Finally, Mackenzie Financial Corp boosted its position in QUALCOMM by 30.4% during the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company's stock valued at $52,378,000 after purchasing an additional 79,827 shares during the period. Institutional investors and hedge funds own 70.87% of the company's stock.

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Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 27,626 shares of the business's stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $131.48, for a total value of $3,632,266.48. Following the transaction, the insider now directly owns 23,637 shares in the company, valued at $3,107,792.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 27,626 shares of the business's stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $131.48, for a total transaction of $3,632,266.48. Following the sale, the insider now owns 23,637 shares of the company's stock, valued at approximately $3,107,792.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey William Henderson sold 2,500 shares of QUALCOMM stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $124.05, for a total value of $310,125.00. Following the completion of the transaction, the director now owns 4,605 shares of the company's stock, valued at $571,250.25. The disclosure for this sale can be found here. Company insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QCOM. Evercore ISI set a $120.00 target price on QUALCOMM in a research note on Wednesday, November 23rd. Credit Suisse Group lifted their price target on QUALCOMM from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, February 3rd. Barclays upgraded QUALCOMM from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $120.00 to $150.00 in a report on Monday, January 23rd. Bank of America restated a "buy" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Friday, February 3rd. Finally, StockNews.com assumed coverage on QUALCOMM in a research report on Thursday. They issued a "hold" rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $156.48.

QUALCOMM Trading Up 0.4 %

Shares of QUALCOMM stock traded up $0.54 during trading on Monday, hitting $121.27. The company's stock had a trading volume of 1,494,495 shares, compared to its average volume of 7,868,388. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.09 and a quick ratio of 1.41. QUALCOMM Incorporated has a 52 week low of $101.93 and a 52 week high of $161.30. The stock has a market cap of $135.22 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28. The stock has a 50-day moving average price of $125.43 and a two-hundred day moving average price of $120.97.

QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $0.02. QUALCOMM had a net margin of 27.40% and a return on equity of 69.93%. The company had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the prior year, the firm earned $2.96 EPS. The business's revenue was down 11.6% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM Incorporated will post 8.21 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 2nd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.47%. QUALCOMM's dividend payout ratio is presently 28.90%.

QUALCOMM Profile

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.