Cahaba Wealth Management Inc. Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cahaba Wealth Management Inc. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,202 shares of the wireless technology company’s stock after selling 185 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in QUALCOMM were worth $239,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in QCOM. Advisor OS LLC boosted its position in shares of QUALCOMM by 11.9% during the 2nd quarter. Advisor OS LLC now owns 3,758 shares of the wireless technology company’s stock worth $748,000 after acquiring an additional 399 shares in the last quarter. Savant Capital LLC boosted its holdings in QUALCOMM by 1.6% in the second quarter. Savant Capital LLC now owns 23,648 shares of the wireless technology company’s stock valued at $4,710,000 after purchasing an additional 367 shares in the last quarter. Narwhal Capital Management increased its stake in QUALCOMM by 0.5% in the second quarter. Narwhal Capital Management now owns 61,262 shares of the wireless technology company’s stock valued at $12,202,000 after purchasing an additional 301 shares during the last quarter. Weil Company Inc. raised its holdings in QUALCOMM by 4.5% during the second quarter. Weil Company Inc. now owns 2,515 shares of the wireless technology company’s stock worth $501,000 after purchasing an additional 108 shares in the last quarter. Finally, Candriam S.C.A. lifted its position in shares of QUALCOMM by 86.5% during the 2nd quarter. Candriam S.C.A. now owns 609,642 shares of the wireless technology company’s stock worth $121,423,000 after buying an additional 282,825 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, 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 transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent analyst reports. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Wells Fargo & Company boosted their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Trading Down 3.4 %

Shares of QUALCOMM stock opened at $158.19 on Friday. The company has a 50-day moving average of $179.95 and a two-hundred day moving average of $181.35. The stock has a market cap of $176.22 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 38.12% and a net margin of 23.32%. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio is presently 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.