Gerber Kawasaki Wealth & Investment Management Sells 1,238 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Posted by Defense World Staff on Sep 13th, 2023

Gerber Kawasaki Wealth & Investment Management decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,744 shares of the wireless technology company’s stock after selling 1,238 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in QUALCOMM were worth $2,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Moneta Group Investment Advisors LLC lifted its holdings in QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after buying an additional 24,566,978 shares in the last quarter. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $1,467,351,000. Cowa LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $94,000. Morgan Stanley raised its holdings in shares of QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of QUALCOMM by 409.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,011,105 shares of the wireless technology company’s stock valued at $331,039,000 after purchasing an additional 2,419,686 shares in the last quarter. Institutional investors own 71.10% of the company’s stock.

QUALCOMM Stock Up 0.9 %

QCOM stock opened at $111.23 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.42 and a quick ratio of 1.64. The firm’s fifty day simple moving average is $117.29 and its 200-day simple moving average is $117.11. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $139.94. The company has a market capitalization of $124.13 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.05. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.51 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 6.41 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 31st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Wednesday, August 30th. QUALCOMM’s dividend payout ratio is currently 41.88%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QCOM shares. UBS Group boosted their price target on shares of QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Bank of America boosted their price target on shares of QUALCOMM from $130.00 to $145.00 in a report on Friday, June 16th. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday. StockNews.com assumed coverage on shares of QUALCOMM in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Piper Sandler boosted their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.96.

Read Our Latest Analysis on QCOM

Insider Activity at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $114.16, for a total transaction of $114,160.00. Following the completion of the transaction, the insider now directly owns 6,745 shares in the company, valued at $770,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

QUALCOMM 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.