Weaver C. Barksdale & Associates Inc. Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Weaver C. Barksdale & Associates Inc. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,312 shares of the wireless technology company’s stock after selling 848 shares during the period. QUALCOMM accounts for approximately 2.3% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 3rd biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in QUALCOMM were worth $2,452,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter worth $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC grew its holdings 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 last quarter. Richardson Capital Management LLC purchased a new stake in QUALCOMM in the 1st quarter valued at $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in QUALCOMM in the 4th quarter valued at about $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 3.3 %

NASDAQ QCOM opened at $173.92 on Friday. 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 Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The firm’s 50 day moving average price is $173.19 and its two-hundred day moving average price is $182.00. The stock has a market cap of $194.09 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.81 and a beta of 1.28.

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

QUALCOMM Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Bank of America increased their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. Barclays boosted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $211.67.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on 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 directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on 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 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 Securities & Exchange Commission, 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 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 approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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.