Wedbush Securities Inc. Has $10.54 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wedbush Securities Inc. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% in the second quarter, HoldingsChannel reports. The firm owned 52,935 shares of the wireless technology company’s stock after selling 126 shares during the period. Wedbush Securities Inc.’s holdings in QUALCOMM were worth $10,544,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,507,978,000. Matrix Capital Management Company LP bought a new position in QUALCOMM during the 1st quarter worth approximately $1,171,516,000. Price T Rowe Associates Inc. MD grew its holdings 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 purchasing an additional 1,909,025 shares during the period. Van ECK Associates Corp increased its stake 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 purchasing an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in QUALCOMM in the first quarter worth $238,770,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.1 %

Shares of QUALCOMM stock opened at $160.00 on Monday. The stock has a market cap of $178.24 billion, a P/E ratio of 21.26, a P/E/G ratio of 1.74 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The business’s 50 day moving average is $179.95 and its 200-day moving average is $181.76. 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 announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities research analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.13%. QUALCOMM’s dividend payout ratio is 45.70%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QCOM. Tigress Financial boosted their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. Susquehanna boosted their target price on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Barclays increased their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Bank of America increased their target price on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the business’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 transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. 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 three months. Insiders own 0.08% of the company’s stock.

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.