Cambridge Advisors Inc. Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cambridge Advisors Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,315 shares of the wireless technology company’s stock after selling 100 shares during the quarter. Cambridge Advisors Inc.’s holdings in QUALCOMM were worth $625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Vanguard Group Inc. raised its position in QUALCOMM by 5.9% in the second quarter. Vanguard Group Inc. now owns 104,166,567 shares of the wireless technology company’s stock valued at $9,501,032,000 after purchasing an additional 5,845,242 shares during the period. FIL Ltd raised its position in QUALCOMM by 380.4% in the second quarter. FIL Ltd now owns 2,805,760 shares of the wireless technology company’s stock valued at $255,913,000 after purchasing an additional 2,221,716 shares during the period. Nuveen Asset Management LLC raised its position in QUALCOMM by 24.4% in the second quarter. Nuveen Asset Management LLC now owns 9,535,939 shares of the wireless technology company’s stock valued at $869,773,000 after purchasing an additional 1,870,075 shares during the period. Public Investment Fund purchased a new stake in QUALCOMM in the first quarter valued at approximately $77,798,000. Finally, Schroder Investment Management Group raised its position in QUALCOMM by 159.5% in the first quarter. Schroder Investment Management Group now owns 1,765,685 shares of the wireless technology company’s stock valued at $125,275,000 after purchasing an additional 1,085,233 shares during the period. 74.79% of the stock is currently owned by institutional investors.

In other news, CFO Akash J. Palkhiwala sold 3,925 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $102.42, for a total transaction of $401,998.50. Following the completion of the sale, the chief financial officer now owns 17,790 shares in the company, valued at $1,822,051.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alexander H. Rogers sold 8,491 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.78, for a total transaction of $991,578.98. The disclosure for this sale can be found here. Insiders have sold 43,720 shares of company stock valued at $5,348,451 in the last quarter. Insiders own 0.12% of the company’s stock.

A number of analysts have recently weighed in on the company. Citigroup upped their price objective on QUALCOMM from $108.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. 140166 upped their price objective on QUALCOMM from $110.00 to $125.00 in a research report on Thursday, July 30th. Raymond James upped their price objective on QUALCOMM from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 30th. Piper Sandler upped their price objective on QUALCOMM from $80.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Exane BNP Paribas raised QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research report on Friday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $121.58.

NASDAQ QCOM traded up $0.45 during trading hours on Friday, hitting $129.03. The company had a trading volume of 6,626,992 shares, compared to its average volume of 10,243,579. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97. QUALCOMM Incorporated has a 1-year low of $58.00 and a 1-year high of $132.42. The company has a market cap of $145.58 billion, a PE ratio of 54.44, a price-to-earnings-growth ratio of 1.79 and a beta of 1.36. The business has a 50 day moving average of $117.35 and a 200-day moving average of $95.14.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. QUALCOMM’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts expect that QUALCOMM Incorporated will post 3.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.65 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $2.60 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 91.55%.

QUALCOMM Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, 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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