SouthState Corp Has $821,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

SouthState Corp boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,347 shares of the wireless technology company’s stock after purchasing an additional 379 shares during the quarter. SouthState Corp’s holdings in QUALCOMM were worth $821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the period. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.3%

QCOM opened at $147.97 on Tuesday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $159.66 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.15 and a beta of 1.23. The business has a 50 day moving average of $155.10 and a 200-day moving average of $153.89.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 earnings per share. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM’s dividend payout ratio is presently 34.33%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares of the company’s stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock worth $8,352,355. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QCOM. JPMorgan Chase & Co. upped their target price on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the company an “outperform” rating in a research note on Monday, July 28th. UBS Group boosted their price target on QUALCOMM from $145.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has an average rating of “Hold” and a consensus price target of $181.10.

QUALCOMM Company Profile

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.