QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Optimist Retirement Group LLC

Optimist Retirement Group LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,048 shares of the wireless technology company’s stock after selling 2,001 shares during the quarter. QUALCOMM comprises 1.4% of Optimist Retirement Group LLC’s portfolio, making the stock its 11th largest position. Optimist Retirement Group LLC’s holdings in QUALCOMM were worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in QCOM. Matrix Capital Management Company LP bought a new stake in QUALCOMM in the first quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA grew its position in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Van ECK Associates Corp lifted its position in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in QUALCOMM during the 1st quarter valued at about $238,770,000. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 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 this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value 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 $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on QCOM shares. Bank of America raised their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Rosenblatt Securities raised their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Robert W. Baird raised their price target on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Price Performance

NASDAQ QCOM opened at $168.30 on Thursday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The business’s fifty day moving average is $173.71 and its two-hundred day moving average is $182.05. The stock has a market capitalization of $187.82 billion, a P/E 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 quick ratio of 1.78 and a current ratio of 2.39.

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 return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, research analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 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.