QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.6% during the second quarter, HoldingsChannel.com reports. The firm owned 1,031 shares of the wireless technology company’s stock after selling 220 shares during the period. CapWealth Advisors LLC’s holdings in QUALCOMM were worth $205,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in QCOM. Norges Bank acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $1,171,516,000. Price T Rowe Associates Inc. MD increased its holdings in shares of QUALCOMM by 8.1% in 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 acquiring an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $238,770,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 1.0 %

NASDAQ:QCOM opened at $163.70 on Friday. The business has a fifty day moving average of $180.77 and a 200-day moving average of $181.31. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The stock has a market cap of $182.36 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.08%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 price target on shares of QUALCOMM in a report on Thursday, August 1st. Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Barclays boosted their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Citigroup upped their price objective on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $210.63.

Insider Buying and Selling at QUALCOMM

In other 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 transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the company’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 completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. Corporate 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.