Wakefield Asset Management LLLP Sells 682 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wakefield Asset Management LLLP cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 24.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,117 shares of the wireless technology company’s stock after selling 682 shares during the quarter. Wakefield Asset Management LLLP’s holdings in QUALCOMM were worth $422,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC lifted its position in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC bought a new position in QUALCOMM during the first quarter valued at approximately $37,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

QUALCOMM stock opened at $158.19 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 company has a market capitalization of $176.54 billion, a PE ratio of 21.26, a P/E/G ratio of 1.93 and a beta of 1.28. The company has a 50 day moving average price of $179.95 and a 200-day moving average price of $181.55. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Analysts Set New Price Targets

A number of research firms have issued reports on QCOM. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. TD Cowen lifted their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Susquehanna boosted their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company increased their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $210.63.

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, computing, multimedia, and position location products.