Evergreen Capital Management LLC Sells 8,889 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Evergreen Capital Management LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.8% in the second quarter, HoldingsChannel reports. The firm owned 92,500 shares of the wireless technology company’s stock after selling 8,889 shares during the quarter. QUALCOMM accounts for approximately 0.7% of Evergreen Capital Management LLC’s holdings, making the stock its 27th biggest holding. Evergreen Capital Management LLC’s holdings in QUALCOMM were worth $18,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in QCOM. Gilbert & Cook Inc. lifted its stake in shares of QUALCOMM by 7.3% in the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after purchasing an additional 356 shares during the period. Gryphon Financial Partners LLC purchased a new position in QUALCOMM during the fourth quarter valued at $334,000. ProVise Management Group LLC purchased a new position in QUALCOMM during the fourth quarter valued at $259,000. Congress Wealth Management LLC DE raised its stake in QUALCOMM by 64.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 10,674 shares of the wireless technology company’s stock valued at $1,544,000 after buying an additional 4,197 shares during the last quarter. Finally, Glassman Wealth Services raised its stake in QUALCOMM by 5.4% during the fourth quarter. Glassman Wealth Services now owns 2,512 shares of the wireless technology company’s stock valued at $363,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $168.92 on Monday. The stock’s 50-day simple moving average is $172.52 and its 200-day simple moving average is $182.26. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a market capitalization of $188.51 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.82 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday, August 2nd. Barclays boosted their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Tigress Financial boosted their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. KeyCorp boosted their price target on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. decreased their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.67.

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.