A. D. Beadell Investment Counsel Inc. decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,253 shares of the wireless technology company’s stock after selling 682 shares during the period. QUALCOMM makes up about 3.2% of A. D. Beadell Investment Counsel Inc.’s holdings, making the stock its 5th biggest position. A. D. Beadell Investment Counsel Inc.’s holdings in QUALCOMM were worth $3,864,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of QCOM. Joseph P. Lucia & Associates LLC bought a new position in shares of QUALCOMM during the first quarter worth about $28,000. Rise Advisors LLC acquired a new position in QUALCOMM in the fourth quarter worth approximately $34,000. Crewe Advisors LLC boosted its stake in QUALCOMM by 444.4% in the 1st quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 200 shares during the period. Activest Wealth Management boosted its stake in shares of QUALCOMM by 117.1% during the 1st quarter. Activest Wealth Management now owns 267 shares of the wireless technology company’s stock valued at $41,000 after buying an additional 144 shares during the period. Finally, Tortoise Investment Management LLC raised its holdings in shares of QUALCOMM by 58.8% during the 1st quarter. Tortoise Investment Management LLC now owns 270 shares of the wireless technology company’s stock valued at $41,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.
QUALCOMM Price Performance
Shares of NASDAQ:QCOM traded down $3.03 during midday trading on Friday, hitting $120.65. The stock had a trading volume of 295,054 shares, compared to its average volume of 6,950,391. The company has a market capitalization of $135.49 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 0.72 and a beta of 1.23. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $140.48 and its 200-day moving average price is $139.40. QUALCOMM Incorporated has a fifty-two week low of $118.22 and a fifty-two week high of $193.58.
QUALCOMM Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, August 31st. QUALCOMM’s dividend payout ratio is currently 26.57%.
Insider Activity at QUALCOMM
In related news, insider James J. Cathey sold 2,084 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $126.51, for a total transaction of $263,646.84. Following the transaction, the insider now owns 917 shares in the company, valued at approximately $116,009.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of QUALCOMM from $190.00 to $170.00 in a report on Wednesday, July 20th. KeyCorp upped their target price on shares of QUALCOMM from $200.00 to $220.00 in a research report on Monday, June 13th. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. Canaccord Genuity Group dropped their price target on shares of QUALCOMM from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, Edward Jones raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $191.04.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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.
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