Sunbelt Securities Inc. Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Sunbelt Securities Inc. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,962 shares of the wireless technology company’s stock after selling 715 shares during the quarter. Sunbelt Securities Inc.’s holdings in QUALCOMM were worth $2,980,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of QCOM. NewEdge Advisors LLC raised its stake in QUALCOMM by 33.0% in the second quarter. NewEdge Advisors LLC now owns 79,506 shares of the wireless technology company’s stock valued at $15,836,000 after purchasing an additional 19,744 shares in the last quarter. Nemes Rush Group LLC raised its position in shares of QUALCOMM by 2.0% during the 2nd quarter. Nemes Rush Group LLC now owns 93,597 shares of the wireless technology company’s stock valued at $18,643,000 after buying an additional 1,854 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at $1,340,000. Algert Global LLC purchased a new stake in QUALCOMM during the second quarter valued at about $366,000. Finally, Aviso Wealth Management raised its position in QUALCOMM by 844.7% during the second quarter. Aviso Wealth Management now owns 1,247 shares of the wireless technology company’s stock valued at $248,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. KeyCorp increased their price objective on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Robert W. Baird increased their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Susquehanna boosted their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Finally, Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.5 %

Shares of NASDAQ:QCOM opened at $170.13 on Monday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a market cap of $189.52 billion, a PE ratio of 22.87, a P/E/G ratio of 1.83 and a beta of 1.28. 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 stock’s 50-day moving average is $169.66 and its 200 day moving average is $182.14.

QUALCOMM (NASDAQ:QCOM) last announced 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. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. QUALCOMM’s dividend payout ratio (DPR) is 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.