Ranch Capital Advisors Inc. Sells 93 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ranch Capital Advisors Inc. lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,602 shares of the wireless technology company’s stock after selling 93 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in QUALCOMM were worth $917,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in QCOM. AE Wealth Management LLC raised its holdings in QUALCOMM by 250.5% in the 2nd quarter. AE Wealth Management LLC now owns 55,214 shares of the wireless technology company’s stock worth $10,998,000 after purchasing an additional 39,463 shares during the period. Sprucegrove Investment Management Ltd. raised its stake in shares of QUALCOMM by 1.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 156,738 shares of the wireless technology company’s stock worth $31,219,000 after buying an additional 2,000 shares during the period. King Luther Capital Management Corp grew its stake in shares of QUALCOMM by 1.2% during the 2nd quarter. King Luther Capital Management Corp now owns 585,795 shares of the wireless technology company’s stock valued at $116,679,000 after acquiring an additional 7,156 shares during the period. Beaton Management Co. Inc. bought a new stake in QUALCOMM during the 2nd quarter worth approximately $219,000. Finally, Etfidea LLC purchased a new position in QUALCOMM during the second quarter valued at approximately $220,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 3.3 %

QCOM stock 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. The firm’s fifty day simple moving average is $173.19 and its 200-day simple moving average is $182.00. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a market capitalization of $194.09 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28.

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%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued 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 1.95%. QUALCOMM’s payout ratio is 45.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QCOM. Rosenblatt Securities increased their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday. Citigroup upped their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Mizuho raised their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, 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. Insiders have sold 19,000 shares of company stock worth $3,496,590 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.