QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 20.8% during the second quarter, Holdings Channel reports. The firm owned 49,945 shares of the wireless technology company’s stock after selling 13,100 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in QUALCOMM were worth $9,948,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc grew its position in shares of QUALCOMM by 0.9% during 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. City Holding Co. increased its stake in QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after purchasing an additional 199 shares during the period. Federated Hermes Inc. raised its holdings in shares of QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after buying an additional 534,176 shares during the last quarter. BNP Paribas acquired a new stake in shares of QUALCOMM during the first quarter worth about $3,104,000. Finally, SWP Financial LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth about $593,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were 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 in the company, valued at approximately $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were 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 in the company, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’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 transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.5 %

Shares of QCOM stock opened at $170.13 on Monday. The firm has a market cap of $189.52 billion, a P/E ratio of 22.87, a PEG ratio of 1.83 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The firm’s 50-day simple moving average is $169.66 and its 200-day simple moving average is $182.14.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.00%. QUALCOMM’s payout ratio is currently 45.70%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Citigroup lifted their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Robert W. Baird lifted their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target 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.