Interchange Capital Partners LLC Sells 165 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Posted by on Jun 13th, 2023

Interchange Capital Partners LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,228 shares of the wireless technology company’s stock after selling 165 shares during the quarter. Interchange Capital Partners LLC’s holdings in QUALCOMM were worth $245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sycomore Asset Management lifted its position in shares of QUALCOMM by 150.0% in the 4th quarter. Sycomore Asset Management now owns 230 shares of the wireless technology company’s stock worth $25,000 after purchasing an additional 138 shares during the period. Arcus Capital Partners LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $26,000. New England Capital Financial Advisors LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $26,000. Corrado Advisors LLC acquired a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Finally, Glassy Mountain Advisors Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $28,000. Institutional investors own 70.87% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. Raymond James initiated coverage on shares of QUALCOMM in a research report on Wednesday, March 1st. They set a “market perform” rating on the stock. StockNews.com raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Monday. Evercore ISI decreased their target price on QUALCOMM from $130.00 to $120.00 in a research report on Thursday, May 4th. KeyCorp decreased their price objective on QUALCOMM from $160.00 to $145.00 in a report on Thursday, May 4th. Finally, Mizuho reduced their price target on shares of QUALCOMM from $150.00 to $140.00 in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $146.96.

QUALCOMM Stock Up 2.5 %

QUALCOMM stock opened at $122.14 on Tuesday. The stock has a market cap of $136.06 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.55 and a current ratio of 2.42. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $156.66. The stock has a fifty day moving average of $113.70 and a 200 day moving average of $119.18.

QUALCOMM (NASDAQ:QCOM – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The wireless technology company reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.14). The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.08 billion. QUALCOMM had a net margin of 25.67% and a return on equity of 56.33%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 6.36 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 22nd. Stockholders of record on Thursday, June 1st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.62%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, May 31st. QUALCOMM’s dividend payout ratio (DPR) is presently 34.30%.

QUALCOMM Company 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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