QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Fairbanks Capital Management Inc.

Fairbanks Capital Management Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,196 shares of the wireless technology company’s stock after selling 1,076 shares during the period. QUALCOMM makes up about 10.2% of Fairbanks Capital Management Inc.’s portfolio, making the stock its biggest holding. Fairbanks Capital Management Inc.’s holdings in QUALCOMM were worth $15,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pine Haven Investment Counsel Inc lifted its stake in shares of QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares during the period. Buffington Mohr McNeal increased its holdings in QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares in the last quarter. TRUE Private Wealth Advisors grew its holdings in QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after buying an additional 57 shares in the last quarter. Macroview Investment Management LLC grew its holdings in QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 3.4 %

Shares of NASDAQ:QCOM opened at $158.19 on Monday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm has a market capitalization of $176.22 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The business’s 50 day moving average price is $179.95 and its 200-day moving average price is $181.76.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate 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. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred 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 of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 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 sold 19,000 shares of company stock valued at $3,496,590 in the last three months. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. KeyCorp raised their price target on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. TD Cowen raised their price target on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft raised their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

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.