DCF Advisers LLC reduced its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 31.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the wireless technology company’s stock after selling 3,250 shares during the quarter. DCF Advisers LLC’s holdings in Qualcomm were worth $1,294,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of QCOM. Your Advocates Ltd. LLP acquired a new position in Qualcomm during the first quarter worth about $26,000. Torren Management LLC acquired a new stake in shares of Qualcomm in the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Qualcomm by 17,000.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock valued at $29,000 after purchasing an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new position in Qualcomm during the 4th quarter worth approximately $31,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in Qualcomm during the 4th quarter worth approximately $32,000. 74.35% of the stock is owned by institutional investors and hedge funds.
Qualcomm Price Performance
Qualcomm stock opened at $160.75 on Friday. The stock has a market capitalization of $168.83 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 14.84 and a beta of 1.65. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The stock’s 50 day moving average price is $178.26 and its two-hundred day moving average price is $168.01.
Qualcomm Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 annualized dividend and a yield of 2.3%. Qualcomm’s payout ratio is currently 42.59%.
Wall Street Analysts Forecast Growth
QCOM has been the topic of a number of research analyst reports. Raymond James Financial began coverage on shares of Qualcomm in a research report on Thursday, June 25th. They issued a “strong-buy” rating on the stock. The Goldman Sachs Group set a $160.00 price target on Qualcomm in a research note on Thursday, July 30th. HSBC restated a “hold” rating on shares of Qualcomm in a research report on Wednesday, July 15th. Royal Bank Of Canada dropped their target price on Qualcomm from $250.00 to $160.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Finally, Susquehanna reduced their price target on Qualcomm from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $203.63.
Check Out Our Latest Report on QCOM
Insider Buying and Selling at Qualcomm
In other news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total value of $470,528.00. Following the completion of the transaction, the executive vice president owned 36,535 shares in the company, valued at $5,372,106.40. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the sale, the executive vice president directly owned 20,684 shares in the company, valued at approximately $3,376,869.84. The trade was a 10.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,325 shares of company stock worth $1,925,859 over the last ninety days. 0.05% of the stock is currently owned by company insiders.
About Qualcomm
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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