Cypress Capital LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cypress Capital LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 5.7% during the first quarter, Holdings Channel reports. The firm owned 13,850 shares of the wireless technology company’s stock after buying an additional 752 shares during the quarter. Cypress Capital LLC’s holdings in QUALCOMM were worth $2,117,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Chase Investment Counsel Corp boosted its position in QUALCOMM by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 21,620 shares of the wireless technology company’s stock worth $3,953,000 after acquiring an additional 58 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in QUALCOMM by 0.7% during the fourth quarter. Rehmann Capital Advisory Group now owns 9,132 shares of the wireless technology company’s stock worth $1,670,000 after purchasing an additional 66 shares during the period. Stuart Chaussee & Associates Inc. raised its stake in QUALCOMM by 49.6% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 67 shares during the period. Wilson & Boucher Capital Management LLC raised its stake in QUALCOMM by 2.3% during the first quarter. Wilson & Boucher Capital Management LLC now owns 3,370 shares of the wireless technology company’s stock worth $515,000 after purchasing an additional 75 shares during the period. Finally, Concord Wealth Partners raised its stake in QUALCOMM by 4.0% during the first quarter. Concord Wealth Partners now owns 1,945 shares of the wireless technology company’s stock worth $297,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 73.61% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $150.21 on Friday. The firm has a market cap of $168.69 billion, a P/E ratio of 13.30, a P/E/G ratio of 0.87 and a beta of 1.22. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.61 and a quick ratio of 1.15. QUALCOMM Incorporated has a 1-year low of $118.22 and a 1-year high of $193.58. The firm has a fifty day moving average of $137.27 and a two-hundred day moving average of $147.29.

QUALCOMM (NASDAQ:QCOM – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.44. The company had revenue of $10.93 billion during the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The firm’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same period last year, the business earned $1.66 EPS. As a group, research analysts anticipate that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, August 31st. QUALCOMM’s dividend payout ratio (DPR) is presently 26.57%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of QUALCOMM from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. KeyCorp increased their price target on shares of QUALCOMM from $200.00 to $220.00 in a research note on Monday, June 13th. Wells Fargo & Company cut their target price on shares of QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, July 11th. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Finally, Susquehanna Bancshares cut their target price on shares of QUALCOMM from $190.00 to $165.00 in a research note on Thursday, April 28th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $192.35.

Insider Activity

In other news, CAO Erin L. Polek sold 1,521 shares of QUALCOMM stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $129.95, for a total value of $197,653.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.05% of the company’s stock.

QUALCOMM Profile

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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.