Blue Barn Wealth LLC Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Blue Barn Wealth LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 29.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,045 shares of the wireless technology company’s stock after selling 1,682 shares during the quarter. Blue Barn Wealth LLC’s holdings in QUALCOMM were worth $806,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System boosted its holdings in QUALCOMM by 0.8% in the second quarter. Arizona State Retirement System now owns 323,535 shares of the wireless technology company’s stock worth $64,442,000 after acquiring an additional 2,710 shares in the last quarter. Denver PWM LLC purchased a new position in shares of QUALCOMM in the 2nd quarter worth about $57,000. MCF Advisors LLC boosted its stake in QUALCOMM by 2.6% in the 2nd quarter. MCF Advisors LLC now owns 6,491 shares of the wireless technology company’s stock worth $1,293,000 after purchasing an additional 166 shares in the last quarter. Columbia Asset Management grew its position in QUALCOMM by 6.1% during the 2nd quarter. Columbia Asset Management now owns 20,333 shares of the wireless technology company’s stock valued at $4,050,000 after purchasing an additional 1,173 shares during the last quarter. Finally, Horizon Investment Services LLC increased its stake in QUALCOMM by 3.0% during the 2nd quarter. Horizon Investment Services LLC now owns 23,317 shares of the wireless technology company’s stock valued at $4,644,000 after purchasing an additional 685 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 0.9 %

QCOM stock opened at $162.22 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The business has a 50 day simple moving average of $180.77 and a two-hundred day simple moving average of $181.31. The company has a market capitalization of $180.71 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.93 and a beta of 1.28.

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, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during 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%. Research analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.10%. QUALCOMM’s payout ratio is 45.70%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now directly 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 Securities & Exchange Commission, which can be accessed 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 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 of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QCOM. TD Cowen upped their target price 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. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Friday, August 2nd. KeyCorp boosted their price target on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft boosted their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM 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.