William Blair Investment Management LLC Has $4.60 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

William Blair Investment Management LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 42.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,114 shares of the wireless technology company’s stock after selling 17,022 shares during the period. William Blair Investment Management LLC’s holdings in QUALCOMM were worth $4,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Thoroughbred Financial Services LLC boosted its position in shares of QUALCOMM by 17.2% during the second quarter. Thoroughbred Financial Services LLC now owns 24,267 shares of the wireless technology company’s stock worth $4,833,000 after buying an additional 3,564 shares during the period. Parallel Advisors LLC raised its holdings in QUALCOMM by 2.1% during the second quarter. Parallel Advisors LLC now owns 14,769 shares of the wireless technology company’s stock worth $2,942,000 after acquiring an additional 297 shares in the last quarter. Westover Capital Advisors LLC bought a new stake in QUALCOMM during the second quarter worth about $395,000. Client 1ST Advisory Group LLC bought a new stake in QUALCOMM during the second quarter worth about $235,000. Finally, RS Crum Inc. raised its holdings in QUALCOMM by 2.0% during the second quarter. RS Crum Inc. now owns 5,100 shares of the wireless technology company’s stock worth $1,016,000 after acquiring an additional 100 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on QCOM shares. Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. 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. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 17th. Finally, Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Trading Down 0.7 %

Shares of QCOM stock opened at $166.61 on Tuesday. The stock’s fifty day moving average price is $175.29 and its two-hundred day moving average price is $182.11. The company has a market cap of $185.94 billion, a PE ratio of 22.39, a P/E/G ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Equities analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’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 sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.