Abbrea Capital LLC Sells 125 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Abbrea Capital LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the second quarter, HoldingsChannel reports. The firm owned 23,340 shares of the wireless technology company’s stock after selling 125 shares during the period. Abbrea Capital LLC’s holdings in QUALCOMM were worth $4,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC grew its stake in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Richardson Capital Management LLC purchased a new position in QUALCOMM in the 1st quarter valued at approximately $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in QUALCOMM in the 4th quarter valued at approximately $39,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QCOM. Tigress Financial lifted their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Mizuho lifted their price objective on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Stock Down 0.9 %

Shares of NASDAQ:QCOM opened at $164.98 on Friday. 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 firm has a market capitalization of $183.79 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The firm has a fifty day moving average of $176.88 and a 200 day moving average of $181.63. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during 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, research analysts anticipate 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. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were 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 directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were 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 directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $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 three months. Insiders own 0.08% of the company’s stock.

QUALCOMM 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.