Lauer Wealth LLC Sells 1,469 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lauer Wealth LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 32.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,109 shares of the wireless technology company’s stock after selling 1,469 shares during the quarter. QUALCOMM makes up approximately 0.5% of Lauer Wealth LLC’s investment portfolio, making the stock its 19th largest position. Lauer Wealth LLC’s holdings in QUALCOMM were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Friedenthal Financial bought a new position in shares of QUALCOMM during the 2nd quarter worth $51,000. Burke & Herbert Bank & Trust Co. lifted its position in shares of QUALCOMM by 170.0% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 6,995 shares of the wireless technology company’s stock worth $1,393,000 after purchasing an additional 4,404 shares during the period. Gemmer Asset Management LLC increased its holdings in QUALCOMM by 65.9% during the second quarter. Gemmer Asset Management LLC now owns 4,031 shares of the wireless technology company’s stock valued at $803,000 after buying an additional 1,601 shares during the period. Wedmont Private Capital raised its stake in QUALCOMM by 12.1% in the second quarter. Wedmont Private Capital now owns 10,208 shares of the wireless technology company’s stock worth $2,066,000 after buying an additional 1,102 shares in the last quarter. Finally, Aspect Partners LLC lifted 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 worth $35,000 after buying an additional 74 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. Mizuho increased their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Friday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Benchmark reissued a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research report on Friday, May 3rd. Finally, Tigress Financial raised their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Activity

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total transaction of $1,539,081.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total transaction of $1,539,081.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 31,285 shares of company stock worth $5,871,215 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

Shares of QCOM stock traded up $6.58 during trading hours on Tuesday, hitting $169.47. 10,668,024 shares of the company’s stock were exchanged, compared to its average volume of 9,424,060. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a market cap of $189.13 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.74 and a beta of 1.27. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $194.59 and a two-hundred day moving average of $179.09.

QUALCOMM Announces Dividend

The business also recently disclosed 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. This represents a $3.40 annualized dividend and a yield of 2.01%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

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.