LSV Asset Management Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

LSV Asset Management lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,513,570 shares of the wireless technology company's stock after selling 235,148 shares during the quarter. QUALCOMM makes up about 1.1% of LSV Asset Management's investment portfolio, making the stock its 6th biggest position. LSV Asset Management owned 0.23% of QUALCOMM worth $500,653,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Waddell & Associates LLC raised its holdings in shares of QUALCOMM by 10.0% in the 2nd quarter. Waddell & Associates LLC now owns 1,775 shares of the wireless technology company's stock worth $354,000 after purchasing an additional 162 shares during the period. Ballentine Partners LLC raised its holdings in QUALCOMM by 5.5% in the second quarter. Ballentine Partners LLC now owns 24,838 shares of the wireless technology company's stock valued at $4,947,000 after buying an additional 1,286 shares during the period. Arlington Trust Co LLC lifted its position in QUALCOMM by 12.1% during the second quarter. Arlington Trust Co LLC now owns 8,438 shares of the wireless technology company's stock valued at $1,681,000 after buying an additional 914 shares in the last quarter. Caprock Group LLC grew its stake in QUALCOMM by 21.8% during the second quarter. Caprock Group LLC now owns 31,032 shares of the wireless technology company's stock worth $6,181,000 after buying an additional 5,555 shares during the period. Finally, W Advisors LLC lifted its holdings in shares of QUALCOMM by 7.2% during the 2nd quarter. W Advisors LLC now owns 1,779 shares of the wireless technology company's stock valued at $354,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company'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 value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company's stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business'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 directly owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

QUALCOMM stock traded down $5.51 during midday trading on Friday, reaching $158.19. The company's stock had a trading volume of 10,703,047 shares, compared to its average volume of 9,279,430. The business has a 50-day moving average price of $179.95 and a 200-day moving average price of $181.76. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. 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 cap of $176.54 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted 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 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%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, September 5th. QUALCOMM's dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

A number of research firms have recently commented on QCOM. Piper Sandler reissued an "overweight" rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Susquehanna lifted their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a "positive" rating in a research report on Wednesday, July 17th. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 3rd. Robert W. Baird lifted their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, July 23rd. Finally, Bank of America upped their target price on QUALCOMM from $180.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.