QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Journey Advisory Group LLC

Journey Advisory Group LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,877 shares of the wireless technology company’s stock after selling 501 shares during the period. Journey Advisory Group LLC’s holdings in QUALCOMM were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter valued at $27,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the 2nd quarter valued at about $32,000. Aspect Partners LLC raised its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. McClarren Financial Advisors Inc. raised its position in QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after acquiring an additional 60 shares during the last quarter. Finally, First Pacific Financial purchased a new stake in shares of QUALCOMM in the second quarter valued at about $40,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, August 2nd. The stock was 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 approximately $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $163.70 on Friday. The company has a market cap of $182.36 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $180.77 and a two-hundred day moving average price of $181.31. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

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

QUALCOMM Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on QCOM shares. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday, August 2nd. Bank of America boosted their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Citigroup lifted their price objective on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, KeyCorp upped their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.63.

About QUALCOMM

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.