Parkside Financial Bank & Trust Sells 66 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Parkside Financial Bank & Trust decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,040 shares of the wireless technology company’s stock after selling 66 shares during the period. Parkside Financial Bank & Trust’s holdings in QUALCOMM were worth $1,004,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth about $27,000. Financial Connections Group Inc. bought a new position in QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC grew its holdings in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. McClarren Financial Advisors Inc. increased its stake in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares in the last quarter. Finally, First Pacific Financial acquired a new stake in QUALCOMM in the second quarter worth $40,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of several research analyst reports. Robert W. Baird boosted 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 Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Citigroup boosted their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, Barclays raised their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Stock Down 1.9 %

Shares of QUALCOMM stock traded down $3.12 on Friday, reaching $160.58. 1,239,446 shares of the company were exchanged, compared to its average volume of 9,224,437. The company has a market capitalization of $178.89 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.93 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a 50-day moving average of $180.77 and a 200 day moving average of $181.31.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current 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 paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.12%. QUALCOMM’s dividend payout ratio (DPR) 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 that occurred on Friday, August 2nd. The stock was 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 approximately $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock worth $3,496,590. Company insiders own 0.08% of the company’s stock.

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.