Beverly Hills Private Wealth LLC Has $1.10 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Beverly Hills Private Wealth LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,528 shares of the wireless technology company’s stock after selling 653 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in QUALCOMM were worth $1,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter worth $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the 2nd quarter worth $32,000. Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM in the first quarter valued at about $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of QUALCOMM in the fourth quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on 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 owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 over the last 90 days. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on QCOM shares. Rosenblatt Securities increased their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Bank of America increased their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. Tigress Financial lifted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Stock Performance

QUALCOMM stock opened at $166.56 on Thursday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company’s 50-day moving average is $177.65 and its two-hundred day moving average is $181.74. 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 company has a market cap of $185.88 billion, a PE ratio of 22.39, a PEG ratio of 1.74 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Equities analysts anticipate 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 issued a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

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.