Bailard Inc. Sells 7,622 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Bailard Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 123,668 shares of the wireless technology company’s stock after selling 7,622 shares during the period. Bailard Inc.’s holdings in QUALCOMM were worth $24,632,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Aspect Partners LLC grew its position in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. First Pacific Financial bought a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $40,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Finally, Richardson Capital Management LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $37,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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 $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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 $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Down 2.3 %

NASDAQ:QCOM traded down $4.01 during trading hours on Monday, reaching $169.49. The company’s stock had a trading volume of 7,434,330 shares, compared to its average volume of 9,295,872. The firm has a market capitalization of $189.15 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.89 and a beta of 1.27. The firm has a 50-day simple moving average of $187.16 and a 200-day simple moving average of $180.75. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company 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%. Research analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Analyst Ratings Changes

A number of analysts recently commented on QCOM shares. Rosenblatt Securities upped their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. KeyCorp upped their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Cantor Fitzgerald restated a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

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.