Edgestream Partners L.P. Sells 3,851 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Edgestream Partners L.P. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 47.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,297 shares of the wireless technology company’s stock after selling 3,851 shares during the period. Edgestream Partners L.P.’s holdings in QUALCOMM were worth $856,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in QCOM. Matrix Capital Management Company LP purchased a new position in QUALCOMM during the first quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA raised its stake in shares of QUALCOMM by 1,778.7% in 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 buying an additional 3,047,947 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of QUALCOMM by 34.8% during 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 buying an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $238,770,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on QCOM shares. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. HSBC downgraded 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. Wells Fargo & Company raised their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Mizuho boosted 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, KeyCorp increased their target price on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of 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 SEC, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s 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 sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on 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 directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 2.9 %

Shares of QCOM stock opened at $168.92 on Friday. The company has a market cap of $188.51 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The stock’s 50 day simple moving average is $172.52 and its two-hundred day simple moving average is $182.16. 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 (NASDAQ:QCOM) last released its quarterly 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 analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Research analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio is presently 45.70%.

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.