Romano Brothers AND Company Sells 280 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Romano Brothers AND Company trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,477 shares of the wireless technology company’s stock after selling 280 shares during the quarter. Romano Brothers AND Company’s holdings in QUALCOMM were worth $4,819,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Milestone Investment Advisors LLC bought a new position in shares of QUALCOMM in the first quarter valued at about $26,000. TD Capital Management LLC raised its holdings in shares of QUALCOMM by 118.8% in the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after buying an additional 120 shares during the last quarter. Pacific Center for Financial Services bought a new position in shares of QUALCOMM in the first quarter valued at about $31,000. Strategic Investment Solutions Inc. IL bought a new position in shares of QUALCOMM in the first quarter valued at about $32,000. Finally, Ruedi Wealth Management Inc. bought a new position in shares of QUALCOMM in the fourth quarter valued at about $28,000. 71.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday. Susquehanna lowered their price objective on QUALCOMM from $145.00 to $140.00 and set a “positive” rating for the company in a research report on Thursday, August 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $145.00 price objective on shares of QUALCOMM in a research report on Thursday, September 14th. UBS Group lifted their price objective on QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, July 24th. Finally, KeyCorp reiterated an “overweight” rating and issued a $145.00 price objective on shares of QUALCOMM in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.96.

QUALCOMM Trading Down 2.0 %

QUALCOMM stock traded down $2.22 during mid-day trading on Tuesday, hitting $110.53. 2,373,108 shares of the company’s stock were exchanged, compared to its average volume of 8,115,043. The firm has a market capitalization of $121.58 billion, a P/E ratio of 14.76, a PEG ratio of 1.10 and a beta of 1.23. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $139.94. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.70. The company’s 50 day simple moving average is $117.12 and its 200-day simple moving average is $116.90.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Wednesday, August 30th. QUALCOMM’s dividend payout ratio is 41.88%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.27, for a total value of $111,270.00. Following the sale, the insider now owns 5,745 shares of the company’s stock, valued at approximately $639,246.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO James H. Thompson sold 27,962 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $113.23, for a total value of $3,166,137.26. Following the completion of the transaction, the chief technology officer now owns 241,369 shares in the company, valued at approximately $27,330,211.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the firm’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 owns 5,745 shares of the company’s stock, valued at approximately $639,246.15. The disclosure for this sale can be found here. Insiders have sold 29,962 shares of company stock valued at $3,391,567 in the last 90 days. 0.07% of the stock is currently owned by company insiders.

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, application processing, multimedia, and global positioning system products.