QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Federated Hermes Inc.

Posted by Defense World Staff on Aug 14th, 2023

Federated Hermes Inc. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 27.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,805 shares of the wireless technology company’s stock after selling 18,074 shares during the quarter. Federated Hermes Inc.’s holdings in QUALCOMM were worth $6,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in QUALCOMM by 7.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,257 shares of the wireless technology company’s stock worth $61,654,000 after buying an additional 34,526 shares during the period. TFC Financial Management Inc. grew its stake in shares of QUALCOMM by 46.0% during the 1st quarter. TFC Financial Management Inc. now owns 1,070 shares of the wireless technology company’s stock worth $137,000 after purchasing an additional 337 shares during the period. Red Door Wealth Management LLC grew its stake in shares of QUALCOMM by 2.5% during the 1st quarter. Red Door Wealth Management LLC now owns 31,014 shares of the wireless technology company’s stock worth $3,957,000 after purchasing an additional 745 shares during the period. Metis Global Partners LLC grew its stake in shares of QUALCOMM by 27.6% during the 1st quarter. Metis Global Partners LLC now owns 51,106 shares of the wireless technology company’s stock worth $6,520,000 after purchasing an additional 11,069 shares during the period. Finally, Atlantic Union Bankshares Corp grew its stake in shares of QUALCOMM by 0.3% during the 1st quarter. Atlantic Union Bankshares Corp now owns 76,460 shares of the wireless technology company’s stock worth $9,755,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 71.48% of the company’s stock.

QUALCOMM Stock Down 0.9 %

Shares of NASDAQ:QCOM opened at $114.61 on Monday. The business has a 50-day moving average price of $120.48 and a 200 day moving average price of $120.12. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $127.90 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.13 and a beta of 1.22. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $152.91.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.79%. The ex-dividend date is Wednesday, August 30th. QUALCOMM’s dividend payout ratio is currently 41.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of QUALCOMM from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $130.00 to $121.00 in a research note on Thursday, August 3rd. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $159.00 to $148.00 in a research note on Thursday, August 3rd. StockNews.com upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. UBS Group increased their target price on QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Finally, HSBC decreased their target price on QUALCOMM from $165.00 to $150.00 in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.26.

Read Our Latest Research Report on QCOM

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $114.16, for a total value of $114,160.00. Following the completion of the transaction, the insider now directly owns 6,745 shares of the company’s stock, valued at approximately $770,009.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

QUALCOMM Company Profile

(Free Report)

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, application processing, multimedia, and global positioning system products.