Paces Ferry Wealth Advisors LLC Sells 82 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Paces Ferry Wealth Advisors LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,933 shares of the wireless technology company’s stock after selling 82 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in QUALCOMM were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of QCOM. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter valued at about $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC boosted its position in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Richardson Capital Management LLC bought a new position in shares of QUALCOMM during the first quarter valued at approximately $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $39,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Tigress Financial upped their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, KeyCorp raised their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Trading Down 0.2 %

NASDAQ QCOM opened at $168.30 on Thursday. The company has a fifty day moving average of $173.71 and a 200 day moving average of $182.05. The company has a market capitalization of $187.82 billion, a PE ratio of 22.62, a P/E/G ratio of 1.81 and a beta of 1.28. 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 Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS 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 return on equity of 38.12% and a net margin of 23.32%. Research analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The company 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 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, 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 sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 in the last three months. 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.