Karp Capital Management Corp Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Karp Capital Management Corp cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 6.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,812 shares of the wireless technology company’s stock after selling 124 shares during the quarter. Karp Capital Management Corp’s holdings in QUALCOMM were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Joseph P. Lucia & Associates LLC purchased a new stake in QUALCOMM in the 1st quarter worth about $28,000. Rise Advisors LLC purchased a new stake in QUALCOMM in the 4th quarter worth about $34,000. Crewe Advisors LLC increased its holdings 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 acquiring an additional 200 shares during the last quarter. Activest Wealth Management increased its holdings in QUALCOMM by 117.1% in the 1st quarter. Activest Wealth Management now owns 267 shares of the wireless technology company’s stock worth $41,000 after acquiring an additional 144 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in QUALCOMM by 58.8% in the 1st quarter. Tortoise Investment Management LLC now owns 270 shares of the wireless technology company’s stock worth $41,000 after acquiring an additional 100 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $123.68 on Friday. The business has a 50 day moving average of $140.48 and a 200 day moving average of $139.40. The company has a market capitalization of $138.89 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.72 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $118.22 and a 1-year high of $193.58. 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 (NASDAQ:QCOMGet Rating) last released its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.44. The company had revenue of $10.93 billion during the quarter, compared to the consensus estimate of $10.85 billion. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. QUALCOMM’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. On average, sell-side analysts predict that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a $0.75 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 2.43%. QUALCOMM’s payout ratio is 26.57%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 2,084 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $126.51, for a total value of $263,646.84. Following the completion of the sale, the insider now owns 917 shares in the company, valued at $116,009.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Piper Sandler decreased their price objective on QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. KeyCorp lifted their target price on QUALCOMM from $200.00 to $220.00 in a report on Monday, June 13th. Wells Fargo & Company reduced their target price on QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Canaccord Genuity Group reduced their target price on QUALCOMM from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Finally, Cowen set a $185.00 target price on QUALCOMM in a report on Tuesday, July 19th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $191.04.

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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