AllGen Financial Advisors Inc. Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

AllGen Financial Advisors Inc. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,280 shares of the wireless technology company’s stock after selling 2,120 shares during the quarter. QUALCOMM comprises approximately 1.3% of AllGen Financial Advisors Inc.’s portfolio, making the stock its 17th biggest position. AllGen Financial Advisors Inc.’s holdings in QUALCOMM were worth $3,442,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of QCOM. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter valued at approximately $27,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $32,000. Aspect Partners LLC boosted its stake 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 valued at $35,000 after buying an additional 74 shares in the last quarter. Richardson Capital Management LLC acquired a new position in QUALCOMM during the first quarter worth $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in QUALCOMM in the fourth quarter worth $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Bank of America upped their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Wells Fargo & Company increased their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Barclays raised their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Stock Down 0.2 %

Shares of QCOM opened at $168.30 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a market cap of $187.82 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average is $173.71 and its two-hundred day moving average is $182.05.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

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.