QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 51.3% in the first quarter, HoldingsChannel reports. The firm owned 1,255 shares of the wireless technology company’s stock after selling 1,323 shares during the quarter. Park Place Capital Corp’s holdings in QUALCOMM were worth $212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Logan Capital Management Inc. boosted its position in QUALCOMM by 20.2% in the 3rd quarter. Logan Capital Management Inc. now owns 7,451 shares of the wireless technology company’s stock worth $828,000 after purchasing an additional 1,252 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of QUALCOMM by 59.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 27,410 shares of the wireless technology company’s stock valued at $3,044,000 after buying an additional 10,192 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of QUALCOMM by 460.2% during the 3rd quarter. Alps Advisors Inc. now owns 55,261 shares of the wireless technology company’s stock valued at $6,137,000 after buying an additional 45,397 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of QUALCOMM by 3.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,109,621 shares of the wireless technology company’s stock valued at $123,235,000 after buying an additional 34,700 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in shares of QUALCOMM by 0.6% during the 3rd quarter. Evergreen Capital Management LLC now owns 160,973 shares of the wireless technology company’s stock valued at $17,878,000 after buying an additional 945 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Up 0.4 %

Shares of NASDAQ:QCOM traded up $0.85 during midday trading on Monday, reaching $200.03. 6,798,058 shares of the company’s stock were exchanged, compared to its average volume of 9,349,510. The firm’s 50 day simple moving average is $195.82 and its two-hundred day simple moving average is $169.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock has a market cap of $223.23 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 2.42 and a beta of 1.27. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. KeyCorp increased their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Argus increased their target price on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Benchmark reissued a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.13.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the transaction, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,456,475 in the last three months. 0.08% of the stock is owned by company 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.