Thrivent Financial for Lutherans Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Thrivent Financial for Lutherans decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.9% in the second quarter, HoldingsChannel reports. The fund owned 1,875,185 shares of the wireless technology company’s stock after selling 328,818 shares during the quarter. QUALCOMM makes up about 0.8% of Thrivent Financial for Lutherans’ portfolio, making the stock its 9th largest holding. Thrivent Financial for Lutherans’ holdings in QUALCOMM were worth $373,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of QCOM. Gilbert & Cook Inc. raised its position in shares of QUALCOMM by 7.3% during the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after buying an additional 356 shares in the last quarter. Gryphon Financial Partners LLC purchased a new position in QUALCOMM during the fourth quarter worth $334,000. Quest Partners LLC bought a new position in QUALCOMM during the fourth quarter valued at $375,000. Avantax Planning Partners Inc. raised its stake in shares of QUALCOMM by 1.5% in the fourth quarter. Avantax Planning Partners Inc. now owns 5,115 shares of the wireless technology company’s stock valued at $740,000 after acquiring an additional 75 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of QUALCOMM by 10.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 72,297 shares of the wireless technology company’s stock worth $10,051,000 after acquiring an additional 6,675 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Susquehanna increased their price target on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 3rd. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Stock Down 2.9 %

Shares of NASDAQ QCOM opened at $168.92 on Friday. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The stock’s fifty day simple moving average is $172.52 and its two-hundred day simple moving average is $182.01. The stock has a market capitalization of $188.51 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

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

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s payout ratio is 45.70%.

QUALCOMM 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.