Park Place Capital Corp Sells 754 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Park Place Capital Corp cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 60.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 501 shares of the wireless technology company’s stock after selling 754 shares during the quarter. Park Place Capital Corp’s holdings in QUALCOMM were worth $100,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $2,507,978,000. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM during the first quarter valued at about $1,171,516,000. Price T Rowe Associates Inc. MD increased its holdings in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of QUALCOMM during the first quarter valued at about $238,770,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the transaction, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at $11,987,516.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,129 shares of company stock valued at $6,730,436. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a research report on Friday, May 3rd. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a research report on Thursday. Finally, Citigroup upped their target price on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $4.69 during midday trading on Friday, reaching $159.31. 16,618,860 shares of the company’s stock traded hands, compared to its average volume of 9,984,102. 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 $177.47 billion, a P/E ratio of 21.41, a PEG ratio of 1.99 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.98 and a current ratio of 2.39. The company has a fifty day simple moving average of $200.91 and a two-hundred day simple moving average of $178.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Equities analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.