Orion Portfolio Solutions LLC Sells 744 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Orion Portfolio Solutions LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,772 shares of the wireless technology company’s stock after selling 744 shares during the period. Orion Portfolio Solutions LLC’s holdings in QUALCOMM were worth $2,142,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of QCOM. Joseph P. Lucia & Associates LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth $28,000. Rise Advisors LLC purchased a new position in QUALCOMM in the fourth quarter worth $34,000. Crewe Advisors LLC increased its position in QUALCOMM by 444.4% during the 1st quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. HWG Holdings LP purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $47,000. Finally, Delos Wealth Advisors LLC lifted its stake in shares of QUALCOMM by 987.5% during the fourth quarter. Delos Wealth Advisors LLC now owns 261 shares of the wireless technology company’s stock worth $48,000 after buying an additional 237 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. KeyCorp raised their target price on shares of QUALCOMM from $200.00 to $220.00 in a report on Monday, June 13th. Canaccord Genuity Group decreased their price objective on shares of QUALCOMM from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 28th. Mizuho upped their price objective on QUALCOMM from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Wells Fargo & Company reduced their target price on shares of QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, July 11th. Ten equities research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.04.

QUALCOMM Stock Performance

QCOM stock opened at $123.68 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.61. QUALCOMM Incorporated has a 52 week low of $118.22 and a 52 week high of $193.58. The firm has a 50 day simple moving average of $140.48 and a 200 day simple moving average of $139.40. The stock has a market cap of $138.89 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.72 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.52 by $0.44. The firm had revenue of $10.93 billion during the quarter, compared to analysts’ expectations of $10.85 billion. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. The business’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 earnings per share. Research analysts anticipate that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.43%. QUALCOMM’s dividend payout ratio (DPR) is currently 26.57%.

Insider Buying and Selling

In other 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 completion of the sale, the insider now owns 917 shares of the company’s stock, valued at approximately $116,009.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by insiders.


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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.

See Also

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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