Duff & Phelps Investment Management Co. Sells 10,287 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Duff & Phelps Investment Management Co. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 80.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,547 shares of the wireless technology company’s stock after selling 10,287 shares during the period. Duff & Phelps Investment Management Co.’s holdings in QUALCOMM were worth $507,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the period. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM in the first quarter valued at $1,171,516,000. Putnam Investments LLC raised its stake in shares of QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QCOM. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. KeyCorp increased their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company increased their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Finally, Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Stock Down 1.5 %

QCOM opened at $170.13 on Monday. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $169.66 and its 200-day moving average price is $182.14. The company has a market cap of $189.52 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.83 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s 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 dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on 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 owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.