QUALCOMM Incorporated (NASDAQ:QCOM) Position Cut by Evoke Wealth LLC

Evoke Wealth LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 62.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the wireless technology company’s stock after selling 13,423 shares during the quarter. QUALCOMM makes up approximately 1.9% of Evoke Wealth LLC’s portfolio, making the stock its 5th biggest position. Evoke Wealth LLC’s holdings in QUALCOMM were worth $1,593,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Pine Haven Investment Counsel Inc boosted its position in QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after buying an additional 50 shares during the last quarter. Buffington Mohr McNeal increased its holdings in QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after purchasing an additional 53 shares during the last quarter. TRUE Private Wealth Advisors raised its position in shares of QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after purchasing an additional 57 shares in the last quarter. Macroview Investment Management LLC boosted its stake in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. grew its position in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the topic of a number of research analyst reports. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, July 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One equities 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.67.

Insider Buying and Selling 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 shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction 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 transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 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. Over the last ninety days, insiders sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $168.92 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $172.52 and a 200-day moving average of $182.16. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The firm has a market cap of $188.51 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) 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 analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s payout ratio is presently 45.70%.

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.