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Credit Capital Investments LLC Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

QUALCOMM logo with Computer and Technology background

Key Points

  • Credit Capital Investments LLC reduced its holdings in QUALCOMM Incorporated by 13.8%, owning 18,700 shares after selling 3,000 shares, making it the fund's 10th largest holding.
  • A range of institutional investors have altered their stakes in QUALCOMM, with Northern Trust Corp increasing its holdings by 12.7% and UBS AM raising its stake by 17% in the last quarter.
  • QUALCOMM also announced a quarterly dividend of $0.89 per share, set to be paid on September 25th, which amounts to an annualized dividend of $3.56 and a yield of 2.4%.
  • MarketBeat previews the top five stocks to own by September 1st.

Credit Capital Investments LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,700 shares of the wireless technology company's stock after selling 3,000 shares during the period. QUALCOMM accounts for 4.9% of Credit Capital Investments LLC's portfolio, making the stock its 10th largest holding. Credit Capital Investments LLC's holdings in QUALCOMM were worth $2,873,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in QCOM. Northern Trust Corp grew its stake in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after buying an additional 1,424,106 shares during the period. Dimensional Fund Advisors LP grew its position in shares of QUALCOMM by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company's stock worth $692,747,000 after purchasing an additional 138,257 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of QUALCOMM by 2.5% in the fourth quarter. First Trust Advisors LP now owns 4,010,518 shares of the wireless technology company's stock valued at $616,096,000 after buying an additional 97,343 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of QUALCOMM by 0.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,541,661 shares of the wireless technology company's stock worth $544,035,000 after purchasing an additional 30,369 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the sale, the insider owned 21,193 shares in the company, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 420,766 shares of company stock worth $7,858,738. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on QCOM shares. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the stock an "outperform" rating in a research report on Monday, July 28th. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Piper Sandler dropped their price target on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday. UBS Group lifted their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Benchmark cut their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $181.10.

View Our Latest Analysis on QUALCOMM

QUALCOMM Trading Up 1.0%

Shares of NASDAQ:QCOM opened at $148.19 on Monday. The stock has a market capitalization of $159.90 billion, a PE ratio of 14.29, a P/E/G ratio of 2.18 and a beta of 1.23. The firm has a fifty day moving average price of $155.11 and a 200 day moving average price of $154.81. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The business's revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is 34.33%.

About QUALCOMM

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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