STF Management LP Sells 866 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

STF Management LP trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,733 shares of the wireless technology company’s stock after selling 866 shares during the quarter. QUALCOMM accounts for 1.5% of STF Management LP’s portfolio, making the stock its 15th largest holding. STF Management LP’s holdings in QUALCOMM were worth $3,532,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the first quarter worth approximately $27,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC increased its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM during the first quarter worth $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in QUALCOMM in the fourth quarter valued at about $39,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on QCOM shares. Mizuho upped their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. KeyCorp increased their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Barclays lifted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. TD Cowen increased their price target on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The stock was 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 of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,496,590 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $167.73 on Monday. The firm has a fifty day simple moving average of $176.11 and a 200 day simple moving average of $182.05. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market capitalization of $186.85 billion, a PE ratio of 22.54, a P/E/G ratio of 1.81 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.

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, beating the consensus estimate of $1.72 by $0.21. The business 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%. On average, research analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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