Sunbelt Securities Inc. Sells 715 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sunbelt Securities Inc. cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,962 shares of the wireless technology company’s stock after selling 715 shares during the quarter. Sunbelt Securities Inc.’s holdings in QUALCOMM were worth $2,980,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the 1st quarter valued at about $27,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC increased its holdings in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. McClarren Financial Advisors Inc. raised 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 purchasing an additional 60 shares during the period. Finally, First Pacific Financial bought a new position in shares of QUALCOMM in the 2nd quarter worth $40,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Down 1.5 %

Shares of QCOM stock opened at $170.13 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $189.52 billion, a P/E ratio of 22.87, a PEG ratio of 1.83 and a beta of 1.28. The company has a 50 day moving average of $169.66 and a 200-day moving average of $182.14. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its 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 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%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QCOM. Cantor Fitzgerald restated a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. Susquehanna upped their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, 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 completion of the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. 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 stock in a transaction dated Friday, July 5th. The stock was 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 directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

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.