B. Riley Wealth Advisors Inc. Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

B. Riley Wealth Advisors Inc. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 20.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,945 shares of the wireless technology company’s stock after selling 13,100 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in QUALCOMM were worth $9,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Gilbert & Cook Inc. grew its position in QUALCOMM by 7.3% during the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock worth $760,000 after purchasing an additional 356 shares during the period. Gryphon Financial Partners LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $334,000. Campbell & CO Investment Adviser LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $873,000. Steward Partners Investment Solutions LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $426,000. Finally, Jones Financial Companies Lllp grew its position in QUALCOMM by 171.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,340 shares of the wireless technology company’s stock worth $338,000 after purchasing an additional 1,479 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Robert W. Baird boosted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Price Performance

Shares of QCOM opened at $170.13 on Monday. The firm has a 50-day simple moving average of $169.66 and a two-hundred day simple moving average of $182.14. The stock has a market cap of $189.52 billion, a PE ratio of 22.87, a P/E/G ratio of 1.83 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 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 earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

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.