Bowling Portfolio Management LLC Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

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Bowling Portfolio Management LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,604 shares of the wireless technology company’s stock after selling 86 shares during the quarter. Bowling Portfolio Management LLC’s holdings in QUALCOMM were worth $1,162,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Pure Financial Advisors LLC increased its holdings in QUALCOMM by 1.4% during the 1st quarter. Pure Financial Advisors LLC now owns 15,165 shares of the wireless technology company’s stock worth $2,317,000 after purchasing an additional 215 shares during the last quarter. Brookstone Capital Management grew its position in shares of QUALCOMM by 12.4% in the 1st quarter. Brookstone Capital Management now owns 19,388 shares of the wireless technology company’s stock worth $2,624,000 after acquiring an additional 2,145 shares in the last quarter. XXEC Inc. acquired a new position in shares of QUALCOMM in the 1st quarter worth approximately $1,392,000. Kiley Juergens Wealth Management LLC grew its position in shares of QUALCOMM by 2.6% in the 1st quarter. Kiley Juergens Wealth Management LLC now owns 18,512 shares of the wireless technology company’s stock worth $2,829,000 after acquiring an additional 473 shares in the last quarter. Finally, Insight Wealth Strategies LLC grew its position in shares of QUALCOMM by 13.6% in the 1st quarter. Insight Wealth Strategies LLC now owns 10,278 shares of the wireless technology company’s stock worth $1,571,000 after acquiring an additional 1,233 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.

In other news, CAO Erin L. Polek sold 1,521 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.05% of the stock is owned by insiders.

QCOM opened at $122.16 on Thursday. QUALCOMM Incorporated has a one year low of $118.36 and a one year high of $193.58. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.27 and a current ratio of 1.61. The stock’s fifty day moving average is $135.63 and its 200-day moving average is $157.00. The company has a market capitalization of $136.82 billion, a PE ratio of 12.50, a P/E/G ratio of 0.67 and a beta of 1.20.

QUALCOMM (NASDAQ:QCOMGet Rating) last announced its earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.19. The company had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. During the same period in the previous year, the firm earned $1.59 earnings per share. On average, equities research analysts forecast that QUALCOMM Incorporated will post 11.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Thursday, June 2nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.46%. QUALCOMM’s payout ratio is 30.71%.

Several brokerages have recently commented on QCOM. Piper Sandler decreased their target price on QUALCOMM from $225.00 to $190.00 in a research report on Thursday, April 28th. KeyCorp lifted their target price on QUALCOMM from $200.00 to $220.00 in a research report on Monday, June 13th. Susquehanna Bancshares reduced their price objective on QUALCOMM from $190.00 to $165.00 in a research report on Thursday, April 28th. Susquehanna reduced their price objective on QUALCOMM from $190.00 to $165.00 in a research report on Thursday, April 28th. Finally, Morgan Stanley boosted their price objective on QUALCOMM from $167.00 to $170.00 in a research report on Thursday, April 28th. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $196.48.

About QUALCOMM (Get Rating)

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.

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