World Equity Group Inc. Sells 1,701 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

World Equity Group Inc. reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 56.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,289 shares of the wireless technology company’s stock after selling 1,701 shares during the quarter. World Equity Group Inc.’s holdings in QUALCOMM were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $27,000. 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 acquiring an additional 74 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $37,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $32,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Down 0.7 %

Shares of NASDAQ QCOM traded down $1.16 during trading hours on Friday, hitting $172.18. The company had a trading volume of 5,435,739 shares, compared to its average volume of 10,985,338. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm’s 50 day moving average is $192.28 and its 200-day moving average is $179.36. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $191.81 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 1.84 and a beta of 1.27.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QCOM. Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Canaccord Genuity Group increased their target price on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. KeyCorp increased their target price on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Activity at QUALCOMM

In related news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM 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 transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,185 shares of company stock worth $4,332,134. 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.