Umpqua Bank Sells 72 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Umpqua Bank decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,540 shares of the wireless technology company’s stock after selling 72 shares during the period. Umpqua Bank’s holdings in QUALCOMM were worth $307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its holdings in QUALCOMM by 7.3% in the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after acquiring an additional 356 shares during the period. Gryphon Financial Partners LLC bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $334,000. Acorn Wealth Advisors LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth approximately $245,000. JFS Wealth Advisors LLC grew its position in QUALCOMM by 6.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,647 shares of the wireless technology company’s stock valued at $238,000 after buying an additional 101 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $1,208,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO James H. Thompson sold 8,000 shares of the company’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 transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was 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 directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. TD Cowen upped their price target on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Rosenblatt Securities boosted their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America raised their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Trading Down 3.4 %

Shares of QCOM opened at $158.19 on Friday. The stock has a market capitalization of $176.54 billion, a PE ratio of 21.26, a P/E/G ratio of 1.93 and a beta of 1.28. The company’s fifty day moving average is $179.95 and its 200 day moving average is $181.55. 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 fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Sell-side analysts expect that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 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.