Royal Capital Wealth Management LLC Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Royal Capital Wealth Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,336 shares of the wireless technology company’s stock after selling 63 shares during the quarter. Royal Capital Wealth Management LLC’s holdings in QUALCOMM were worth $665,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gilbert & Cook Inc. grew its holdings in shares of QUALCOMM by 7.3% in the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock worth $760,000 after acquiring an additional 356 shares during the period. Gryphon Financial Partners LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $334,000. Congress Wealth Management LLC DE increased its position in shares of QUALCOMM by 64.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 10,674 shares of the wireless technology company’s stock valued at $1,544,000 after purchasing an additional 4,197 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of QUALCOMM by 11.9% in the 4th quarter. Parallel Advisors LLC now owns 13,046 shares of the wireless technology company’s stock worth $1,887,000 after purchasing an additional 1,383 shares during the period. Finally, 3Chopt Investment Partners LLC bought a new stake in QUALCOMM during the fourth quarter valued at approximately $698,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $166.95 on Wednesday. The company has a market cap of $185.98 billion, a price-to-earnings ratio of 22.44, a PEG 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 $170.82 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 announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.04%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was 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 owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 over the last ninety days. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. Bank of America lifted their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.67.

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.