Middleton & Co. Inc. MA Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Middleton & Co. Inc. MA reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,673 shares of the wireless technology company’s stock after selling 5,732 shares during the quarter. QUALCOMM comprises 2.0% of Middleton & Co. Inc. MA’s investment portfolio, making the stock its 13th biggest position. Middleton & Co. Inc. MA’s holdings in QUALCOMM were worth $17,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. City Holding Co. lifted its stake in QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares in the last quarter. Federated Hermes Inc. raised its position in shares of QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after buying an additional 534,176 shares in the last quarter. BNP Paribas bought a new stake in QUALCOMM during the first quarter valued at $3,104,000. SWP Financial LLC purchased a new position in QUALCOMM during the fourth quarter worth about $593,000. Finally, Horizon Investment Services LLC bought a new position in QUALCOMM in the 1st quarter worth about $3,832,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Friday, August 2nd. Finally, Mizuho lifted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Trading Down 0.2 %

QCOM opened at $168.30 on Thursday. The business has a 50 day moving average of $173.71 and a 200-day moving average of $182.05. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market cap of $187.82 billion, a PE ratio of 22.62, a PEG ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities research analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is 45.70%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

About QUALCOMM

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.