Resources Management Corp CT ADV Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Resources Management Corp CT ADV decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,614 shares of the wireless technology company’s stock after selling 465 shares during the period. QUALCOMM accounts for about 1.0% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 24th largest position. Resources Management Corp CT ADV’s holdings in QUALCOMM were worth $6,894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter valued at about $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM during the 2nd quarter valued at approximately $32,000. Aspect Partners LLC lifted its holdings in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in QUALCOMM by 43.2% in the 2nd 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 purchased a new stake in QUALCOMM during the 2nd quarter valued at approximately $40,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $165.96 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The business’s 50 day moving average is $171.68 and its two-hundred day moving average is $182.19. The company has a market capitalization of $185.21 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.82 and a beta of 1.28.

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 the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock valued at $3,496,590. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Susquehanna increased their target price on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.67.

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.