QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 61.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280 shares of the wireless technology company’s stock after selling 439 shares during the period. Worth Asset Management LLC’s holdings in QUALCOMM were worth $33,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Milestone Investment Advisors LLC acquired a new stake in shares of QUALCOMM during the first quarter worth about $26,000. Ruedi Wealth Management Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of QUALCOMM by 53.9% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock worth $28,000 after buying an additional 90 shares during the last quarter. TD Capital Management LLC grew its holdings in shares of QUALCOMM by 118.8% during the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock worth $28,000 after buying an additional 120 shares during the last quarter. Finally, Pacific Center for Financial Services purchased a new position in shares of QUALCOMM during the first quarter worth about $31,000. 71.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered QUALCOMM from a “buy” rating to a “hold” rating and lowered their price target for the stock from $130.00 to $121.00 in a report on Thursday, August 3rd. StockNews.com lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday. UBS Group raised their price target on QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. Wolfe Research began coverage on QUALCOMM in a report on Wednesday, July 19th. They issued an “outperform” rating and a $145.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $141.96.

QUALCOMM Trading Down 0.3 %

Shares of QCOM opened at $112.75 on Tuesday. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $139.94. The stock has a fifty day moving average of $117.12 and a two-hundred day moving average of $116.90. The company has a market capitalization of $124.03 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.42.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.05. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.51 billion. As a group, analysts forecast that QUALCOMM Incorporated will post 6.41 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.84%. QUALCOMM’s dividend payout ratio is presently 41.88%.

Insider Activity

In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the insider now directly owns 5,745 shares of the company’s stock, valued at approximately $639,246.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.27, for a total value of $111,270.00. Following the completion of the transaction, the insider now directly owns 5,745 shares of the company’s stock, valued at approximately $639,246.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 27,962 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the transaction, the chief technology officer now directly owns 241,369 shares of the company’s stock, valued at $27,330,211.87. The disclosure for this sale can be found here. Insiders sold 29,962 shares of company stock valued at $3,391,567 in the last ninety days. Company insiders own 0.07% 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, application processing, multimedia, and global positioning system products.