Waterloo Capital L.P. Sells 142 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Waterloo Capital L.P. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,892 shares of the wireless technology company’s stock after selling 142 shares during the period. Waterloo Capital L.P.’s holdings in QUALCOMM were worth $974,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter worth approximately $27,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter worth $32,000. Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM during the 1st quarter worth $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of QUALCOMM during the 4th quarter worth $39,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Tigress Financial lifted their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. Citigroup lifted their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s 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 owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,496,590 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $168.30 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market cap of $187.82 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.81 and a beta of 1.28. The firm’s fifty day moving average is $173.71 and its two-hundred day moving average is $182.05. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced 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. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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

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.