QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Dynamic Advisor Solutions LLC

Posted by on Mar 23rd, 2023

Dynamic Advisor Solutions LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 22.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 13,246 shares of the wireless technology company’s stock after selling 3,792 shares during the period. Dynamic Advisor Solutions LLC’s holdings in QUALCOMM were worth $1,456,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in QCOM. Fairfield Bush & CO. raised its position in QUALCOMM by 1.3% during the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after acquiring an additional 390 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in QUALCOMM by 12.5% during 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 acquiring an additional 245,335 shares during the period. Merit Financial Group LLC raised its position in QUALCOMM by 25.2% during the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after acquiring an additional 555 shares during the period. NewEdge Advisors LLC raised its position in QUALCOMM by 23.8% during the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after acquiring an additional 8,472 shares during the period. Finally, Mackenzie Financial Corp raised its position in QUALCOMM by 30.4% during the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after acquiring an additional 79,827 shares during the period. 70.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QCOM has been the subject of a number of research reports. StockNews.com initiated coverage on shares of QUALCOMM in a report on Thursday, March 16th. They set a “hold” rating for the company. Westpark Capital initiated coverage on shares of QUALCOMM in a report on Wednesday. They set a “hold” rating for the company. Citigroup upped their target price on shares of QUALCOMM from $105.00 to $132.00 and gave the stock a “neutral” rating in a report on Sunday, February 5th. KeyCorp upped their target price on shares of QUALCOMM from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Finally, Cowen dropped their target price on shares of QUALCOMM from $165.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.48.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 27,626 shares of the stock in a transaction dated 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 $3,107,792.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeffrey William Henderson sold 2,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 4,605 shares of the company’s stock, valued at $571,250.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 27,626 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 23,637 shares in the company, valued at approximately $3,107,792.76. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

QUALCOMM Trading Down 1.5 %

Shares of QCOM stock opened at $121.97 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.09 and a quick ratio of 1.41. The firm has a market cap of $136.00 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.95 and a beta of 1.28. The company has a 50-day moving average of $125.78 and a two-hundred day moving average of $120.89. QUALCOMM Incorporated has a 1-year low of $101.93 and a 1-year high of $161.30.

QUALCOMM (NASDAQ:QCOM – Get Rating) last announced its earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.02. The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.57 billion. QUALCOMM had a net margin of 27.40% and a return on equity of 69.93%. QUALCOMM’s revenue was down 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.96 earnings per share. On average, analysts predict that QUALCOMM Incorporated will post 8.21 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 2nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.00 annualized dividend and a dividend yield of 2.46%. 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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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