IMS Capital Management cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) 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
Read Our Latest Analysis on QCOM
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 – Get Free Report) 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.
See Also
- Five stocks we like better than QUALCOMM
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- TJX Stock: A Buying Opportunity Before the Holiday Rush
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Micron’s Blowout Results Pave the Way for Seagate’s Stock Surge
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- Zeta Global’s AI Cloud: Your Secret Weapon for Massive Growth
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.