Shariaportfolio Inc. Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Shariaportfolio Inc. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 61.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,572 shares of the wireless technology company's stock after selling 7,231 shares during the quarter. QUALCOMM comprises approximately 0.5% of Shariaportfolio Inc.'s holdings, making the stock its 25th largest position. Shariaportfolio Inc.'s holdings in QUALCOMM were worth $911,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its position in shares of QUALCOMM by 7.3% during the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company's stock worth $760,000 after purchasing an additional 356 shares during the last quarter. Gryphon Financial Partners LLC acquired a new position in QUALCOMM in the 4th quarter valued at approximately $334,000. Hillsdale Investment Management Inc. raised its holdings in QUALCOMM by 27.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company's stock valued at $190,000 after acquiring an additional 280 shares in the last quarter. Gladstone Institutional Advisory LLC raised its holdings in QUALCOMM by 3.7% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 14,631 shares of the wireless technology company's stock valued at $2,116,000 after acquiring an additional 516 shares in the last quarter. Finally, Associated Banc Corp acquired a new position in QUALCOMM in the 4th quarter valued at approximately $248,000. Institutional investors own 74.35% of the company's stock.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was 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 $47,452,516.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business's stock in a transaction dated 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 in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Friday, July 5th. The stock was 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 sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $0.40 on Wednesday, reaching $168.30. 5,870,524 shares of the company traded hands, compared to its average volume of 9,155,874. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a 50 day moving average of $174.52 and a 200 day moving average of $182.15. The firm has a market capitalization of $187.82 billion, a PE ratio of 22.67, a PEG ratio of 1.81 and a beta of 1.28. 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 released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.21. The firm 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 analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

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 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM's dividend payout ratio (DPR) is presently 45.70%.

Analysts Set New Price Targets

Several research firms have commented on QCOM. Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. DZ Bank raised QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a report on Friday, August 2nd. Westpark Capital reaffirmed a "hold" rating on shares of QUALCOMM in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on QUALCOMM from $155.00 to $170.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Finally, Susquehanna upped their price target on QUALCOMM from $205.00 to $250.00 and gave the company a "positive" rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.67.

About QUALCOMM

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.