QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Wealth Alliance

Wealth Alliance decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,746 shares of the wireless technology company’s stock after selling 190 shares during the quarter. Wealth Alliance’s holdings in QUALCOMM were worth $1,144,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bradley Foster & Sargent Inc. CT lifted its stake in shares of QUALCOMM by 3.9% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 37,063 shares of the wireless technology company’s stock worth $7,382,000 after acquiring an additional 1,384 shares in the last quarter. Cranbrook Wealth Management LLC raised its stake in QUALCOMM by 172.5% during the second quarter. Cranbrook Wealth Management LLC now owns 673 shares of the wireless technology company’s stock valued at $134,000 after buying an additional 426 shares in the last quarter. L & S Advisors Inc acquired a new stake in QUALCOMM during the second quarter valued at approximately $6,238,000. Axxcess Wealth Management LLC raised its stake in QUALCOMM by 25.9% during the second quarter. Axxcess Wealth Management LLC now owns 30,550 shares of the wireless technology company’s stock valued at $6,085,000 after buying an additional 6,286 shares in the last quarter. Finally, Pitti Group Wealth Management LLC raised its stake in QUALCOMM by 9.9% during the second quarter. Pitti Group Wealth Management LLC now owns 4,741 shares of the wireless technology company’s stock valued at $944,000 after buying an additional 427 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. Mizuho upped their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Barclays upped their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $211.67.

Insider Buying and Selling at QUALCOMM

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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s 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 completion of 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 filing with the SEC, which is accessible through this hyperlink. 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 value of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $168.30 on Thursday. The business has a 50 day simple moving average of $173.71 and a 200 day simple moving average of $182.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The firm has a market capitalization of $187.82 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s 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.