QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Reduced by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 40.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,285 shares of the wireless technology company's stock after selling 93,390 shares during the period. Deprince Race & Zollo Inc.'s holdings in QUALCOMM were worth $26,946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Delta Investment Management LLC raised its position in shares of QUALCOMM by 7.2% during the 2nd quarter. Delta Investment Management LLC now owns 2,839 shares of the wireless technology company's stock valued at $565,000 after buying an additional 191 shares in the last quarter. Drucker Wealth 3.0 LLC bought a new position in shares of QUALCOMM in the second quarter worth approximately $1,431,000. Employees Retirement System of Texas bought a new stake in QUALCOMM in the 2nd quarter worth $9,326,000. APG Asset Management US Inc. increased its stake in shares of QUALCOMM by 14.1% during the second quarter. APG Asset Management US Inc. now owns 390,115 shares of the wireless technology company's stock valued at $78,035,000 after buying an additional 48,179 shares during the period. Finally, Albar Capital Ltd purchased a new stake in QUALCOMM in the second quarter worth $6,232,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of several research reports. Wolfe Research lowered QUALCOMM from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 12th. Rosenblatt Securities raised their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Robert W. Baird raised 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. Hsbc Global Res downgraded QUALCOMM from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 17th. Finally, Westpark Capital reiterated a "hold" rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.67.

QUALCOMM Trading Up 2.6 %

Shares of QCOM traded up $4.39 during mid-day trading on Thursday, reaching $172.66. The stock had a trading volume of 8,450,196 shares, compared to its average volume of 9,244,902. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week 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. The business's fifty day moving average is $170.36 and its 200 day moving average is $182.06. The firm has a market cap of $192.69 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion during the quarter, compared to analysts' expectations of $9.23 billion. On average, sell-side analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM's dividend payout ratio (DPR) is presently 45.70%.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm'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 transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO James H. Thompson sold 8,000 shares of the business's stock in a transaction dated 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 sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly 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 valued at $3,496,590. 0.08% of the stock is currently owned by insiders.

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.