QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Verity & Verity LLC

Verity & Verity LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,804 shares of the wireless technology company’s stock after selling 268 shares during the quarter. QUALCOMM accounts for 1.7% of Verity & Verity LLC’s portfolio, making the stock its 22nd largest position. Verity & Verity LLC’s holdings in QUALCOMM were worth $15,099,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Legal & General Group Plc lifted its holdings in QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the last quarter. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM during the first quarter valued at approximately $1,171,516,000. Putnam Investments LLC boosted its position in QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the period. Finally, Van ECK Associates Corp increased its position in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after buying an additional 1,519,781 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $165.78 on Wednesday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a market cap of $184.68 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.86 and a beta of 1.28. The business has a 50 day moving average price of $168.61 and a 200 day moving average price of $182.15. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Research analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were paid a $0.85 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. QUALCOMM’s payout ratio is currently 45.70%.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Friday, August 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Robert W. Baird upped their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Rosenblatt Securities raised their target price 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

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.