Prime Capital Investment Advisors LLC Sells 7,110 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Prime Capital Investment Advisors LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,319 shares of the wireless technology company’s stock after selling 7,110 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in QUALCOMM were worth $9,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. WFA Asset Management Corp purchased a new stake in QUALCOMM during the first quarter valued at $27,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at about $32,000. Aspect Partners LLC lifted its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Richardson Capital Management LLC purchased a new position in QUALCOMM in the first quarter worth about $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in QUALCOMM during the fourth quarter worth approximately $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction 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 of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the firm’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 completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 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 19,000 shares of company stock valued at $3,496,590 over the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.7 %

QUALCOMM stock opened at $167.73 on Monday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The business has a fifty day moving average of $176.11 and a two-hundred day moving average of $182.05. The firm has a market cap of $186.85 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.82 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.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.03%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. TD Cowen lifted their target price on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 17th. Robert W. Baird increased their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Company 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.