QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 34,614 shares of the wireless technology company’s stock after selling 465 shares during the period. QUALCOMM accounts for about 1.0% of Resources Management Corp CT ADV’s holdings, making the stock its 24th largest holding. Resources Management Corp CT ADV’s holdings in QUALCOMM were worth $6,894,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Interval Partners LP increased its stake in shares of QUALCOMM by 12,590.0% during the 2nd quarter. Interval Partners LP now owns 10,152 shares of the wireless technology company’s stock worth $2,022,000 after purchasing an additional 10,072 shares in the last quarter. Xponance Inc. raised its holdings in shares of QUALCOMM by 2.5% in the second quarter. Xponance Inc. now owns 283,479 shares of the wireless technology company’s stock worth $56,463,000 after acquiring an additional 6,889 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of QUALCOMM in the second quarter valued at $2,983,000. Public Sector Pension Investment Board boosted its stake in shares of QUALCOMM by 75.5% during the second quarter. Public Sector Pension Investment Board now owns 43,177 shares of the wireless technology company’s stock valued at $8,600,000 after acquiring an additional 18,577 shares during the last quarter. Finally, DRW Securities LLC raised its stake in QUALCOMM by 108.3% in the 2nd quarter. DRW Securities LLC now owns 7,942 shares of the wireless technology company’s stock valued at $1,581,000 after purchasing an additional 103,784 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $165.96 on Tuesday. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a market capitalization of $185.21 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The business has a 50 day moving average price of $171.68 and a two-hundred day moving average price of $182.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Research analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on QCOM shares. Citigroup upped their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays upped their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Robert W. Baird raised their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.67.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s 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 sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by insiders.

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.