QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,880 shares of the wireless technology company’s stock after selling 3,042 shares during the quarter. QUALCOMM accounts for approximately 0.9% of Prosperity Consulting Group LLC’s portfolio, making the stock its 21st largest holding. Prosperity Consulting Group LLC’s holdings in QUALCOMM were worth $6,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wrapmanager Inc. acquired a new stake in QUALCOMM in the 2nd quarter valued at $546,000. Stolper Co boosted its position in shares of QUALCOMM by 1.6% in the second quarter. Stolper Co now owns 33,145 shares of the wireless technology company’s stock worth $6,602,000 after buying an additional 514 shares during the period. Wealthspire Advisors LLC grew its stake in shares of QUALCOMM by 21.9% in the second quarter. Wealthspire Advisors LLC now owns 13,848 shares of the wireless technology company’s stock valued at $2,758,000 after buying an additional 2,484 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of QUALCOMM by 17.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 24,267 shares of the wireless technology company’s stock valued at $4,833,000 after buying an additional 3,564 shares during the period. Finally, Parallel Advisors LLC grew its position in QUALCOMM by 2.1% in the second quarter. Parallel Advisors LLC now owns 14,769 shares of the wireless technology company’s stock valued at $2,942,000 after acquiring an additional 297 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Rosenblatt Securities raised their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Up 1.7 %

QUALCOMM stock opened at $167.73 on Friday. The firm has a market capitalization of $186.85 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a 50-day simple moving average of $176.11 and a 200-day simple moving average of $181.70. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. 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 posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion during 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%. As a group, equities analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.03%. QUALCOMM’s payout ratio is 45.70%.

Insiders Place Their Bets

In other news, 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 value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction 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 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. Company insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.