Clarity Capital Partners LLC Sells 1,754 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Clarity Capital Partners LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 46.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,996 shares of the wireless technology company’s stock after selling 1,754 shares during the period. Clarity Capital Partners LLC’s holdings in QUALCOMM were worth $338,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Norges Bank bought a new position in QUALCOMM during the 4th quarter valued at about $2,507,978,000. International Assets Investment Management LLC lifted its holdings in QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Up 0.8 %

Shares of QUALCOMM stock traded up $1.68 on Wednesday, hitting $208.80. The company had a trading volume of 5,154,425 shares, compared to its average volume of 9,184,460. The firm has a market capitalization of $233.02 billion, a P/E ratio of 28.06, a P/E/G ratio of 2.53 and a beta of 1.27. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock has a 50-day moving average of $202.30 and a 200-day moving average of $172.96.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Research analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.63%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on QCOM shares. JPMorgan Chase & Co. boosted their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Argus boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Barclays boosted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler boosted their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI initiated coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $192.96.

Get Our Latest Report on QCOM

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, computing, multimedia, and position location products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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