QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Cut by IMS Capital Management

IMS Capital Management cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,180 shares of the wireless technology company’s stock after selling 316 shares during the period. IMS Capital Management’s holdings in QUALCOMM were worth $1,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the second quarter worth $32,000. Aspect Partners LLC lifted its holdings in shares of QUALCOMM by 71.8% during 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 last quarter. Finally, Richardson Capital Management LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at $37,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 transaction, the chief technology officer now directly 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 SEC, which can be accessed through this hyperlink. Also, 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 value of $616,830.00. Following the transaction, 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. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QCOM. Wells Fargo & Company boosted their target price on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. 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 report on Tuesday, July 23rd. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Stock Performance

QCOM opened at $170.05 on Tuesday. The firm has a market cap of $189.78 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The business’s fifty day moving average is $169.16 and its 200-day moving average is $182.16. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week 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 announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 return on equity of 38.12% and a net margin of 23.32%. Sell-side analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal 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 $0.85 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. QUALCOMM’s payout ratio is presently 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.