QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,152 shares of the wireless technology company’s stock after selling 5,683 shares during the quarter. Valley Wealth Managers Inc.’s holdings in QUALCOMM were worth $5,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter valued at approximately $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the 2nd quarter valued at approximately $32,000. Aspect Partners LLC boosted its position in QUALCOMM by 71.8% during the 2nd 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. Richardson Capital Management LLC acquired a new position in QUALCOMM during the 1st quarter valued at approximately $37,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in QUALCOMM during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. Robert W. Baird boosted their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Rosenblatt Securities boosted their price objective on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp boosted their price objective on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value 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. Insiders have sold 19,000 shares of company stock worth $3,496,590 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $164.98 on Friday. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $183.79 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.82 and a beta of 1.28. The stock’s fifty day simple moving average is $176.88 and its 200-day simple moving average is $181.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share 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 business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, sell-side analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

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.