Malaga Cove Capital LLC Has $679,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Malaga Cove Capital LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,410 shares of the wireless technology company’s stock after selling 200 shares during the quarter. Malaga Cove Capital LLC’s holdings in QUALCOMM were worth $679,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QCOM. Daiwa Securities Group Inc. increased its holdings in shares of QUALCOMM by 22.6% in the second quarter. Daiwa Securities Group Inc. now owns 275,653 shares of the wireless technology company’s stock valued at $54,904,000 after purchasing an additional 50,754 shares during the last quarter. Vision Capital Management Inc. grew its stake in QUALCOMM by 0.5% in the 2nd quarter. Vision Capital Management Inc. now owns 25,174 shares of the wireless technology company’s stock valued at $5,014,000 after buying an additional 115 shares during the last quarter. Doheny Asset Management CA raised its holdings in QUALCOMM by 32.8% in the 2nd quarter. Doheny Asset Management CA now owns 23,650 shares of the wireless technology company’s stock valued at $4,711,000 after acquiring an additional 5,847 shares during the period. Provident Investment Management Inc. acquired a new stake in QUALCOMM during the second quarter worth approximately $203,000. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of QUALCOMM by 3.9% during the second quarter. Royal London Asset Management Ltd. now owns 472,704 shares of the wireless technology company’s stock worth $94,153,000 after acquiring an additional 17,893 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock worth $3,496,590. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $160.77 on Tuesday. 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 Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The firm has a market cap of $179.10 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The firm’s fifty day moving average is $179.17 and its 200-day moving average is $181.80.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. 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 $9.23 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.11%. QUALCOMM’s payout ratio is 45.70%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on QCOM shares. Robert W. Baird increased their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup lifted their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Wells Fargo & Company increased their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Mizuho raised their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM 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.