Wealth Alliance Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Wealth Alliance cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,746 shares of the wireless technology company’s stock after selling 190 shares during the quarter. Wealth Alliance’s holdings in QUALCOMM were worth $1,144,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the second quarter worth $32,000. Aspect Partners LLC raised its holdings in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the last quarter. Richardson Capital Management LLC acquired a new position in QUALCOMM during the first quarter worth $37,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in QUALCOMM during the fourth quarter worth $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM stock opened at $168.30 on Thursday. The stock has a 50-day moving average price of $173.71 and a two-hundred day moving average price of $182.05. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market cap of $187.82 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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 firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, research analysts predict that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Wells Fargo & Company lifted their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Tigress Financial boosted their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $211.67.

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.