Quest Partners LLC Sells 155 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Quest Partners LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,977 shares of the wireless technology company’s stock after selling 155 shares during the period. Quest Partners LLC’s holdings in QUALCOMM were worth $394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. Norges Bank acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM in the 1st quarter valued at $1,171,516,000. Price T Rowe Associates Inc. MD increased its stake in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the period. Van ECK Associates Corp raised its position in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of QUALCOMM during the first quarter valued at $238,770,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.7 %

QCOM stock opened at $167.73 on Friday. The business’s fifty day moving average price is $176.11 and its two-hundred day moving average price is $181.70. The stock has a market capitalization of $186.85 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, equities analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders 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 dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, July 17th. Citigroup upped their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, 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 report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was 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 of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last quarter, insiders have 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.