Ferguson Wellman Capital Management Inc. Sells 4,111 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ferguson Wellman Capital Management Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 24.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,875 shares of the wireless technology company’s stock after selling 4,111 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in QUALCOMM were worth $1,645,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Rehmann Capital Advisory Group grew its position in QUALCOMM by 0.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 9,132 shares of the wireless technology company’s stock worth $1,670,000 after acquiring an additional 66 shares during the period. Wilson & Boucher Capital Management LLC grew its position in QUALCOMM by 2.3% in the first quarter. Wilson & Boucher Capital Management LLC now owns 3,370 shares of the wireless technology company’s stock worth $515,000 after acquiring an additional 75 shares during the period. Concord Wealth Partners grew its position in QUALCOMM by 4.0% in the first quarter. Concord Wealth Partners now owns 1,945 shares of the wireless technology company’s stock worth $297,000 after acquiring an additional 75 shares during the period. Ritholtz Wealth Management grew its position in QUALCOMM by 0.5% in the first quarter. Ritholtz Wealth Management now owns 15,747 shares of the wireless technology company’s stock worth $2,406,000 after acquiring an additional 76 shares during the period. Finally, Manchester Financial Inc. boosted its position in shares of QUALCOMM by 0.8% during the first quarter. Manchester Financial Inc. now owns 10,092 shares of the wireless technology company’s stock worth $1,542,000 after buying an additional 78 shares during the period. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 2,084 shares of QUALCOMM 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 sale, the insider now owns 917 shares of the company’s stock, valued at approximately $116,009.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $123.68 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.85. QUALCOMM Incorporated has a 52-week low of $118.22 and a 52-week high of $193.58. The business’s 50-day moving average price is $140.48 and its 200 day moving average price is $139.40. The firm 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 released its quarterly earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.44. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. The firm had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.85 billion. During the same quarter last year, the company posted $1.66 earnings per share. The business’s revenue was up 36.7% on a year-over-year basis. On average, equities research analysts expect that QUALCOMM Incorporated will post 10.95 earnings per share for the current year.

QUALCOMM Dividend Announcement

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

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. Wells Fargo & Company lowered their price target on QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Cowen set a $185.00 price target on QUALCOMM in a research report on Tuesday, July 19th. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Mizuho increased their price objective on QUALCOMM from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on QUALCOMM from $190.00 to $170.00 in a research note on Wednesday, July 20th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.04.

QUALCOMM Company 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.

See Also

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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