Benjamin F. Edwards & Company Inc. Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Benjamin F. Edwards & Company Inc. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,986 shares of the wireless technology company’s stock after selling 1,461 shares during the period. QUALCOMM comprises approximately 0.8% of Benjamin F. Edwards & Company Inc.’s portfolio, making the stock its 17th largest position. Benjamin F. Edwards & Company Inc.’s holdings in QUALCOMM were worth $48,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. WFA Asset Management Corp purchased a new stake in QUALCOMM during the 1st quarter valued at about $27,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the second quarter valued at approximately $32,000. Aspect Partners LLC boosted its stake 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 purchasing an additional 74 shares during the period. McClarren Financial Advisors Inc. grew its holdings in shares of QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares during the last quarter. Finally, First Pacific Financial purchased a new position in shares of QUALCOMM in the second quarter worth $40,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

Shares of QCOM opened at $173.92 on Friday. 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 one year low of $104.33 and a one year high of $230.63. The firm has a market capitalization of $194.09 billion, a P/E ratio of 23.38, a PEG ratio of 1.81 and a beta of 1.28. The business has a fifty day moving average of $173.19 and a 200 day moving average of $182.00.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The company 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%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 1.95%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on QCOM shares. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Bank of America upped their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Barclays lifted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Mizuho lifted their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $211.67.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction 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 directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 directly owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 $12,407,124.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM 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.