Stablepoint Partners LLC Sells 8,292 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Stablepoint Partners LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,486 shares of the wireless technology company’s stock after selling 8,292 shares during the quarter. QUALCOMM accounts for 1.0% of Stablepoint Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Stablepoint Partners LLC’s holdings in QUALCOMM were worth $5,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the first quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. increased 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 purchasing an additional 157 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter worth $32,000. Aspect Partners LLC boosted its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new position in QUALCOMM during the first quarter valued at about $37,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $1,595,760.00. Following the sale, 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 SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,496,590 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on QCOM shares. Citigroup increased their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Susquehanna raised their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Piper Sandler reiterated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Robert W. Baird boosted their price objective on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Bank of America upped their price objective 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Trading Up 1.3 %

Shares of QCOM stock opened at $165.33 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $184.18 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The business has a 50-day moving average price of $181.40 and a two-hundred day moving average price of $181.43. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.06%. QUALCOMM’s payout ratio is 45.70%.

QUALCOMM Company 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.