QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Torray Investment Partners LLC

Torray Investment Partners LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 33.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,146 shares of the wireless technology company's stock after selling 35,683 shares during the period. QUALCOMM accounts for about 2.1% of Torray Investment Partners LLC's holdings, making the stock its 14th biggest holding. Torray Investment Partners LLC's holdings in QUALCOMM were worth $14,370,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter worth $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company's stock worth $30,000 after buying an additional 157 shares during the period. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the second quarter valued at about $32,000. Aspect Partners LLC raised its stake 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 period. Finally, Richardson Capital Management LLC acquired a new position in shares of QUALCOMM in the 1st quarter worth approximately $37,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QCOM. Susquehanna lifted their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the company a "positive" rating in a report on Wednesday, July 17th. DZ Bank upgraded QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. KeyCorp raised their target price on QUALCOMM from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, July 9th. Wolfe Research lowered shares of QUALCOMM from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 12th. Finally, Bank of America raised their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and an average price target of $210.63.

QUALCOMM Stock Down 3.4 %

QCOM stock traded down $5.51 during trading on Friday, hitting $158.19. 10,703,047 shares of the company's stock were exchanged, compared to its average volume of 9,279,430. The business has a 50-day moving average price of $179.95 and a two-hundred day moving average price of $181.55. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $176.54 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.93 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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 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%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM's payout ratio is 45.70%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction dated 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 directly owns 229,987 shares of the company's stock, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other 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 approximately $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 sale, the chief financial officer now 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. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $3,496,590. Corporate 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.