Evergreen Capital Management LLC Sells 8,889 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Evergreen Capital Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,500 shares of the wireless technology company’s stock after selling 8,889 shares during the quarter. QUALCOMM comprises about 0.7% of Evergreen Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Evergreen Capital Management LLC’s holdings in QUALCOMM were worth $18,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Pine Haven Investment Counsel Inc boosted its position in QUALCOMM by 2.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after purchasing an additional 50 shares during the last quarter. Buffington Mohr McNeal grew its holdings in shares of QUALCOMM by 3.9% during the second 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 grew its holdings in shares of QUALCOMM by 2.2% during the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC lifted its stake in shares of QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after acquiring an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. lifted its stake 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 acquiring an additional 60 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Susquehanna boosted their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Bank of America upped their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Tigress Financial upped their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One 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’s stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $211.67.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $168.92 on Monday. The business’s 50-day moving average price is $172.52 and its two-hundred day moving average price is $182.26. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The stock has a market cap of $188.51 billion, a P/E ratio of 22.70, a PEG ratio of 1.82 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The firm 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%. As a group, equities analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders 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 dividend yield of 2.01%. QUALCOMM’s dividend payout ratio (DPR) 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.