Banque Cantonale Vaudoise Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Banque Cantonale Vaudoise trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,953 shares of the wireless technology company’s stock after selling 3,225 shares during the quarter. Banque Cantonale Vaudoise’s holdings in QUALCOMM were worth $4,373,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Sage Mountain Advisors LLC boosted its holdings in QUALCOMM by 16.2% in the second quarter. Sage Mountain Advisors LLC now owns 5,196 shares of the wireless technology company’s stock valued at $1,035,000 after purchasing an additional 724 shares during the last quarter. Catalytic Wealth RIA LLC boosted its holdings in QUALCOMM by 5.1% in the second quarter. Catalytic Wealth RIA LLC now owns 7,334 shares of the wireless technology company’s stock valued at $1,461,000 after purchasing an additional 354 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in QUALCOMM by 3.3% in the second quarter. Ingalls & Snyder LLC now owns 25,846 shares of the wireless technology company’s stock valued at $5,148,000 after purchasing an additional 836 shares during the last quarter. J. W. Coons Advisors LLC purchased a new stake in QUALCOMM in the second quarter valued at $201,000. Finally, IFG Advisory LLC purchased a new stake in shares of QUALCOMM during the 2nd quarter worth about $1,650,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM opened at $175.30 on Friday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $183.33 and a 200 day moving average price of $181.14. The firm has a market capitalization of $195.28 billion, a PE ratio of 23.56, a P/E/G ratio of 1.93 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen increased their target price on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Citigroup increased their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, July 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Mizuho increased their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

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.