Prosperity Consulting Group LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Prosperity Consulting Group LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,880 shares of the wireless technology company's stock after selling 3,042 shares during the period. QUALCOMM comprises 0.9% of Prosperity Consulting Group LLC's investment portfolio, making the stock its 21st largest position. Prosperity Consulting Group LLC's holdings in QUALCOMM were worth $6,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. City Holding Co. grew its holdings in shares of QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company's stock worth $996,000 after purchasing an additional 199 shares during the last quarter. Bard Financial Services Inc. grew its holdings in shares of QUALCOMM by 0.4% in the fourth quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company's stock worth $5,032,000 after purchasing an additional 125 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company's stock worth $167,781,000 after purchasing an additional 534,176 shares during the last quarter. BNP Paribas bought a new position in shares of QUALCOMM in the first quarter worth approximately $3,104,000. Finally, SWP Financial LLC bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $593,000. Institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a "hold" rating in a report on Thursday, August 1st. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Tuesday, September 3rd. Finally, Bank of America lifted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a "buy" rating in a report 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 data from MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and an average target price of $210.63.

Insider Buying and Selling at QUALCOMM

In other news, 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 in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed 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 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 transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 directly owns 60,343 shares of the company's stock, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock worth $3,496,590. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.7 %

QUALCOMM stock traded up $2.75 during mid-day trading on Friday, reaching $167.73. The stock had a trading volume of 4,049,902 shares, compared to its average volume of 9,208,135. The company has a market capitalization of $186.85 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.82 and a beta of 1.28. The company has a 50-day moving average price of $176.11 and a two-hundred day moving average price of $181.86. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. 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 (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analysts' expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM's dividend payout ratio is currently 45.70%.

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.