QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 497 shares of the wireless technology company’s stock after selling 141 shares during the period. Carolinas Wealth Consulting LLC’s holdings in QUALCOMM were worth $99,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in QCOM. Matrix Capital Management Company LP purchased a new stake in QUALCOMM in the first quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA grew its holdings in QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the period. Price T Rowe Associates Inc. MD raised its position 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 acquiring an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp lifted its holdings 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 valued at $997,210,000 after acquiring an additional 1,519,781 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in QUALCOMM in the 1st quarter worth approximately $238,770,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,496,590 over the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 0.2 %

Shares of QCOM opened at $168.30 on Thursday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. 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 stock has a fifty day simple moving average of $173.71 and a two-hundred day simple moving average of $182.05. The company has a market capitalization 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.

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

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s payout ratio is 45.70%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on QCOM shares. Bank of America lifted their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Citigroup upped their price target on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

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.