Milestone Asset Management LLC trimmed its position in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 69.2% during the 2nd quarter, Holdings Channel reports. The firm owned 6,479 shares of the wireless technology company’s stock after selling 14,584 shares during the period. Milestone Asset Management LLC’s holdings in Qualcomm were worth $1,197,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Qualcomm by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock worth $2,666,000 after buying an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Qualcomm by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after acquiring an additional 340 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Qualcomm by 44.3% in the second quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company’s stock valued at $530,000 after acquiring an additional 1,020 shares in the last quarter. Main Street Financial Solutions LLC lifted its position in shares of Qualcomm by 6.1% in the second quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company’s stock valued at $920,000 after acquiring an additional 333 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of Qualcomm by 9.7% in the second quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company’s stock worth $1,083,000 after acquiring an additional 603 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.
Qualcomm Trading Up 0.6%
Shares of QCOM opened at $165.79 on Friday. The stock has a market capitalization of $174.12 billion, a PE ratio of 19.19, a P/E/G ratio of 15.16 and a beta of 1.65. The company’s fifty day moving average is $182.72 and its 200 day moving average is $167.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92.
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 dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.2%. Qualcomm’s dividend payout ratio is 42.59%.
Insider Buying and Selling at Qualcomm
In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total value of $408,150.00. Following the completion of the sale, the executive vice president directly owned 20,684 shares of the company’s stock, valued at $3,376,869.84. This trade represents a 10.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction that occurred on Monday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $5,372,106.40. This trade represents a 8.05% decrease in their position. 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 11,529 shares of company stock worth $1,991,345 over the last ninety days. Company insiders own 0.05% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on Qualcomm from $160.00 to $265.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Tigress Financial upped their price target on Qualcomm from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Freedom Capital raised shares of Qualcomm from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Finally, Sanford C. Bernstein set a $165.00 price objective on shares of Qualcomm in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Qualcomm presently has an average rating of “Hold” and a consensus target price of $203.63.
View Our Latest Analysis on Qualcomm
Qualcomm Profile
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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